The aluminum can shortage continues.
“Demand is just kind of crazy,” said Kathleen Pitre, chief commercial and sustainability officer at Ball Corp., the world’s largest maker of aluminum drink cans. Demand has risen sharply not only for standard 12-ounce cans but also tall, sleek cans used for drinks like hard seltzer, as reported by The Wall Street Journal.
Even Coca-Cola and Molson Coors have said they’ve seen aluminum supplies tighten along with bigger demand for their canned products.
“If you’re in the business of getting beverage and product onto the shelf and you can’t get the cans to get it on the shelf, that’s a problem for you,” says Gina Sanchez, founder and CEO of Chantico Global, as quoted by CNBC. “The bigger you are, the better you can handle this, but I think that this goes back to the manufacturers as the biggest beneficiary of this cycle.”
To trade the shortage, investors have been pouring into Ball Corp. (BLL) and Crown Holdings Inc. (CCK) – both of which have exploded higher on the shortage news.