December 22, 2023
Summary
The current world alumina market is projected to experience a growing surplus in 2024 and 2025 as China amplifies its alumina self-sufficiency and production increases in India and Indonesia ahead of new aluminum smelting ramp-ups. HARBOR expects Australia alumina fob spot prices to fall in 2024 by… % y/y toward $… per mton, with fundamental cost support for the world’s average alumina refinery seen hovering around $… per mton.