Increasing Our Near-Term Alumina Price Forecast on Supply Shock; Raising Alumina’s FVE to AUD 1.60
Alumina prices soared to an all-time high in reaction to some significant events affecting the aluminum supply chain. Alunorte, the largest alumina refinery in the world is currently running at 50% of capacity due to a Brazilian court decree. This step was taken in reaction to reports of a toxic leak at the facility. More recently, the U.S. government announced sanctions impacting Russian producer Rusal, which provides 7% of global alumina production. The sanctions stipulate that U.S. entities a...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.
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