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Alumina refinery and aluminium smelter incentive price update - 2019

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21 March 2019

Alumina refinery and aluminium smelter incentive price update - 2019

Report summary

Wood Mackenzie routinely reassesses the long run alumina and aluminium incentive prices, which are the minimum prices needed to make investment in new refinery or smelter capacity economically viable. The assessment takes into account projects’ location, capital and operating costs. We model a number of generic refineries and smelters using a mix of greenfield and brownfield projects. For this analysis, we estimate the cash flow of the various modelled projects and discount them using risk-adjusted rates varying from 12% to 15%.

Table of contents

  • Aluminium: the required aluminium incentive price is lower than the historical average at US$2250/t
  • Incentive price methodology

Tables and charts

This report includes 1 images and tables including:

  • Aluminium incentive price, long run operating cost and capital intensity, US$/t

What's included

This report contains:

  • Document

    Alumina refinery and aluminium smelter incentive price update - 2019

    PDF 783.70 KB

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