Attributable to Marghanita Johnson, CEO, Australian Aluminium Council:
- The Gulf region produces around 9% of global aluminium capacity. Aluminium prices have reached a four-year high, reflecting a tight global market.
- The Strait of Hormuz remains a critical chokepoint for both alumina imports and aluminium exports.
- For smelters in the region, secure alumina supply will be crucial –more than 80% of which is usually sourced from Australia.
- Alumina prices are already under pressure, and these developments may add further volatility.
- This continues to be a rapidly evolving situation. The full implications may not be clear for some time.
Fast Facts
- Australia is the world’s second largest producer of alumina and the Middle East is a major export destination for Australia – 2024 Trade Factsheet
- Aluminium prices available from LME Aluminium (noting delayed prices)
- Alumina price – LME Alumina (noting delayed prices)
