Australia: Aluminium Market 2024

Aluminium Market Size in Australia

In 2022, the Australian aluminium market decreased by -3.1% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Aluminium Production in Australia

In value terms, aluminium production fell slightly to $X in 2022 estimated in export price. In general, production, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 20% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Aluminium Exports

Exports from Australia

Aluminium exports from Australia expanded to X tons in 2022, growing by 2.2% on 2021. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; afterwards, it flattened through to 2022.

In value terms, aluminium exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 39%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Japan (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of aluminium exports from Australia, with a combined 59% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +28.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aluminium exported from Australia were Japan ($X), South Korea ($X) and the United States ($X), together comprising 59% of total exports.

Among the main countries of destination, the United States, with a CAGR of +32.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium export price amounted to $X per ton, increasing by 10% against the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium export price increased by +61.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 47% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Malaysia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Imports

Imports into Australia

After two years of growth, supplies from abroad of aluminum (unwrought, not alloyed) decreased by -11.1% to X tons in 2022. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 1,368%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, aluminium imports fell significantly to $X in 2022. Over the period under review, imports, however, posted a perceptible expansion. The pace of growth was the most pronounced in 2014 when imports increased by 1,251%. Over the period under review, imports attained the maximum at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

In 2022, the United States (X tons) was the main aluminium supplier to Australia, accounting for a 97% share of total imports. It was followed by Qatar (X tons), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +18.5%.

In value terms, the United States ($X) constituted the largest supplier of aluminum (unwrought, not alloyed) to Australia, comprising 96% of total imports. The second position in the ranking was held by Qatar ($X), with a 3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +16.8%.

Import Prices by Country

The average aluminium import price stood at $X per ton in 2022, with a decrease of -6.2% against the previous year. In general, the import price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 29% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+15.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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