May 30, 2023
SUMMARY
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Alumina spot prices have fallen to four-month lows amid declining refining costs, plunging LME prices, and increasing alumina production that has outpaced demand.
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World metallurgical alumina production is up… % y/y in the Jan-Apr 2023 period, while demand has increased by only… % y/y.
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China remains set to drive the world’s alumina market to its…
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Booming bauxite demand from China (to feed its alumina production expansions) is buoying more bauxite mining in…
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We expect alumina prices to fall further ahead and toward the $… per mton zone.