February 23, 2024
Summary
The world’s alumina market is expected to shift into a surplus position in 2024 for the first time in five years, given an anticipated acceleration in Asia’s alumina production that will balloon the alumina market surplus in the Pacific to its largest in decades and will boost the world’s alumina production growth to its strongest in 8 years. Alumina prices have peaked, and HARBOR expects them to retreat toward $300 per mton as a growing surplus unfolds.