COMMENTARY/Short Term--Costs and Prices

摘要

According to our latest estimate, the average operating costs of primary aluminium smelters, measured in US dollars, were 1694 dollars (2078 dollars/tonne in 2008 Q3). For the western countries only this average was 1536 dollars (1965 dollars in 2008 Q3). The table below shows these average production costs. To cover operating costs, capital charges and earn a normal return on equity, the average primary smelter needs a price of around 1933 dollars/tonne FOB plant (2474 dollars in 2008 Q3) under current conditions. If prices fall below 1694 dollars, the average smelter is not covering operating costs.