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Alumina Ltd predicts 2016 alumina price rises-The 17th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
3/1/2016 Metal &Metallurgy expo |
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AAP reported that Alcoa's Australian partner Alumina Ltd predicts alumina prices will improve this year and says it can withstand whatever the market throws at it.
Chief executive Peter Wasow said supply growth overshot demand in 2015, but the current alumina market price was unsustainable. He said "We can withstand whatever the market throws at us. We believe some recovery in alumina prices is likely this year but many uncertainties remain."
Mr Wasow predicts the alumina market will be tighter in 2016 compared to the "more challenged" aluminium market.
He expects more consolidation in the industry as smaller and higher cost refiners struggle, while adding that all Chinese refineries were now losing money.
Alumina Ltd posted a $US88.3 million ($A122.53 million) full year net profit after paying for a range of restructuring costs related to shutting down capacity in its Alcoa World Alumina and Chemicals (AWAC) joint venture with metals giant Alcoa.
Alumina is a 40 per cent partner in the global aluminium giant's AWAC business, which includes its Australian interests. The Australian operations include bauxite mines, three alumina refineries in Western Australia and an aluminium smelter, together employing around 5,000 people.
-The 17th
China(Guangzhou)Int’l Metal &Metallurgy Exhibition
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