Commodity Market Report

Global aluminium investment horizon outlook - Q3 2024

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Wood Mackenzie’s medium-term market balance will be increasingly determined by the interplay between scrap generation, secondary and primary metal. We assume that the share of global secondary metal in total demand will rise over the next 10 years and displace, to some extent, the requirement for additional primary aluminium. This is conditional on the industry ramping up scrap collection, sorting and processing capacity to feed growing secondary demand. Failure to achieve this will result in significantly tighter balances and sustained higher prices.

Table of contents

Tables and charts

This report includes the following images and tables:

  • Global aluminium balance and prices
  • Primary aluminium demand and capacity, 2000-2034, Mtpa
  • Stock days of consumption and price
  • Global supply-demand balance
  • Middle East alumina requirement and imports (kt)
  • Stock days and price
  • Smelter grade alumina balance
  • Alumina demand and capacity, 2010-2034, Mtpa
  • Global alumina balance and prices
  • Seaborne bauxite supply-demand balance and prices
  • Seaborne bauxite supply - demand, Mt (dry)
  • Kamsar - Yantai, Bauxite Capesize Voyage Rates, US$/t
  • 34 more item(s)...

What's included

This report contains:

  • Document

    Global aluminium investment horizon outlook - Q3 2024

    PDF 1.65 MB