Insight
Incentive prices: alumina to aluminium price ratio to rise?
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Wood Mackenzie's analysis of long run incentive prices for alumina and aluminium suggests that prices will need to be higher in the future than historically observed, if the market is to remain in equilibrium.
Table of contents
- IRR methodology- the rationale and risks
- Prices have not kept pace with operating costs
- Capital intensity for both refineries and smelters have risen
- Incentive pricing - assumptions employed
- Model output - long run equilibrium alumina and prices
Tables and charts
This report includes the following images and tables:
- Raw material, electricity, energy and alumina prices
- Raw material, electricity and aluminium prices
- Alumina prices and refinery cash costs, 2000-2012 (US$/t aluminium)
- Aluminium prices and smelter cash costs, 2000-2012 (US$/t alumina)
- Refinery capital intensity outside of China, 1980-2016 (US$/t installed capacity)
- Smelter capital intensity outside of China, 1980-2016 (US$/t installed capacity)
- Historical and equilibrium alumina prices (2012 US$/t alumina)
- Historical and equilibrium aluminium prices (2012 US$/t aluminium)
What's included
This report contains:
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