China's alumina production accounts for about half of the world's production. According to the Steel Federation, global alumina production in 2021 will be 118 million tons. China's alumina production will be 64 million tons, accounting for 48.1% of global production. Australia's alumina production ranks second, followed by Australia and India. , Brazil tends to produce a certain amount of domestic bauxite beyond demand into alumina for export. Although Guinea has rich reserves of high-quality bauxite, it is restricted by its weak industry and tends to directly export bauxite. Every year, China has a large amount of alumina, but it is mainly supplied for domestic sales. , less exports.
According to ALD data, as of 2020, the global alumina production capacity was 160 million tons, the operating capacity was 127 million tons, and the operating rate was 79%; during the same period, the electrolytic aluminum built capacity was 75.31 million tons, the operating capacity was 67.89 million tons, and the operating rate was 90%. According to IAI data, global metallurgical-grade alumina production from January to July 2022 was 11.36 million tons, a year-on-year increase of 3%. The total domestic alumina production capacity from January to August was 97.02 million tons. In August, the production capacity was 8,170 tons, and the operating rate was 84%. , global alumina production capacity has expanded.
The current alumina: electrolytic aluminum smelting ratio should be 1.92:1, and the current alumina: electrolytic aluminum ratio is 2.08:1. The global alumina production supply is greater than the electrolytic aluminum production demand. The alumina production capacity utilization rate has been weaker than the electrolytic aluminum production capacity utilization rate since 2021. Alumina's built production capacity continues to expand, operating capacity has changed slightly, and alumina production capacity is significantly overcapacity.
