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Aluminium market outlook - 2013 review and events to watch in 2014

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2013 was a challenging year for the aluminium industry as the low price environment made an estimated 20Mt of smelter output unprofitable. The unrelenting squeeze on smelters' margins was the result of low aluminium prices and resilient alumina prices during the year which forced the closure of an estimated 1.2Mt/a of high cost capacity in the world outside China (ROW). China curtailed around 2Mt/a of high cost capacity, however, the country also completed an estimated 4Mt/a of new capacity.

Table of contents

  • Executive summary
  • 2013 Year in review
  • Events to watch in 2014
  • Demand Analysis
  • Supply Analysis - Market wants more curtailments
  • Indonesia, Gove and China are lifting spot alumina prices

Tables and charts

This report includes 8 images and tables including:

  • Price, premium and cost, 2012
  • Aluminium market outlook - 2013 review and events to watch in 2014: Image 2
  • Stock financing was very profitable in 2013
  • Regional growth in demand, 2013-2014, (y-o-y %)
  • Aluminium market outlook - 2013 review and events to watch in 2014: Image 5
  • Voluntary smelter curtailments effective since October 2011, kt/a
  • China’s refineries projected to have 78 weeks import bauxite stockpiled at end 2013
  • Rest of World alumina balances, China imports and Spot prices, 2012-2013, (kt)

What's included

This report contains:

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    Aluminium market outlook - 2013 review and events to watch in 2014

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