CHARACTERISTICS, SUPPLY AND DEMAND OF KEY BASE METALS
More aluminium is produced today than any other base metal,16 with more than 44 millions tonnes produced by smelting in 201117 and a forecast of 51 million for 2012. Figure 9.2 shows the forward price of high-grade aluminium in contango out to 2018. The global market for aluminium is expected to remain strong for the foreseeable future as retail customers are generally eager to buy lighter and more recyclable consumer goods.
Figure 9.2 Aluminium forward curve
Source: Thomson Reuters Eikon
The impact of the economic crisis in 2008 was hard on the world aluminium sector and the industry ...