Investor Presentaiton
ALUMINIUM MARKET
III
SOUTH32
Healthy demand growth (~3% p.a.) driven
by transport and packaging sectors,
and clean energy transition
Aluminium production
(Mt)
With China's smelting capacity expected to
be capped at 45Mt, the rest of the world is
required to invest in new smelting
capacity to meet demand
Long-term price to be supported by
higher inducement cost projects outside
of China, powered by green energy
80
70
N WE UT O
20
30
40
50
10
10
2000
Source: CRU
2005
2010
China contributed >80% incremental
production over the past two
decades with CAGR growth of 12%,
while ex-China growth was 1%
Ex-China forecast to contribute >80%
incremental production over the next
decade with CAGR growth increasing to 4%
while China growth moderates to 1%
■China
2015
World ex-China
2020
2025e
2030e
SLIDE 31View entire presentation