A flattened cost curve and lower demand growth are likely to see low alumina prices persist.
We maintain our AUD 0.95 per share fair value estimate for no-moat-rated AWC. Our disagreement with the market on valuation stems from a differentiated view on the outlook for aluminium demand. We think the future will look very different and consumption growth rates will slow considerably from historical rates. In the 10 years ended 2016, global aluminium demand grew at 5.6% compound per year. China was the primary driver of the rapid growth, accounting for nearly all the additional demand, mor...Alumina is engaged the business of the global bauxite, alumina and aluminium industry, which it conducts primarily through bauxite mining and alumina refining. All of those business activities are conducted through its 40% investments in Alcoa World Alumina and Chemicals ("AWAC"). Co.'s equity interests in AWAC forms a reportable segment.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.