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. 

Commodity Market Report

Aluminium outlook - Q3 2021

Get this report


You can pay by card or invoice

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

- FAQs about online orders
- Find out more about subscriptions

28 September 2021

Aluminium outlook - Q3 2021

Report summary

The medium-term outlook for aluminium will be shaped by the energy transition, rising and volatile power costs and continued growth in demand. Over the short-term, we think supply will become increasingly price inelastic as power rationing and restrictions limits smelter output growth in China. With the capacity cap in China only a few years away, future output growth will become a function of higher utilisation rates. In the rest of the world, as high carbon fuel sources such as coal are removed from electricity generation without a one for one replacement from renewables at the same price, we are likely to see cost inflation for smelters. This is already taking shape in Europe.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Aluminium Outlook Q3 2021.pdf

    PDF 1.17 MB