×

We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

Insight

Aluminium: 5 things to look for in 2023

Get this report

$1,050

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

16 January 2023

Aluminium: 5 things to look for in 2023

Report summary

2022 was anything but dull for the aluminium market with the war in Ukraine, surging power prices, China’s stop-start economy and slowing metal demand growth. The LME price halved from a high of US$4000/t in March to a low of US$2079/t in September. 2023 looks set for more of the same, with significant challenges ahead for market participants across the value chain. What happens in China does not stay in China and will have a significant bearing on shaping global market fundamentals. The scale of the widely anticipated recovery in Chinese demand will determine the level of growth required in primary aluminium and alumina supply. Also watch out for how consumers of metal deal with distorted supply chains and increased emphasis on the origin and carbon metrics of metal. In this Insight we have picked out key themes that need close attention in the way that they could shape the market.

Table of contents

  • A volatile physical market
  • Renewable power is making inroads into the aluminium industry – the argument is not if but how fast .
  • Choppy metal supply outlook for 2023
  • Greater uncertainty for China aluminium smelter restarts.
  • Elevated risk of substantial alumina cutbacks on high costs and oversupply.

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Aluminium: 5 things to look for in 2023

    PDF 724.41 KB