Chile: Alumina Market 2024

Alumina Market Size in Chile

In 2022, after two years of growth, there was decline in the Chilean alumina market, when its value decreased by -3.8% to $X. Overall, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +95.5% against 2019 indices. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Alumina Exports

Exports from Chile

In 2022, after three years of decline, there was significant growth in shipments abroad of alumina, when their volume increased by 288% to X tons. Overall, exports, however, continue to indicate a deep reduction. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, alumina exports skyrocketed to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Argentina (X tons) and Peru (X kg) were the main destinations of alumina exports from Chile.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +2.4%), while shipments for the other leaders experienced a decline.

In value terms, Argentina ($X) remains the key foreign market for alumina exports from Chile, comprising 70% of total exports. The second position in the ranking was held by Mexico ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina stood at +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-1.6% per year) and Peru (+9.3% per year).

Export Prices by Country

In 2022, the average alumina export price amounted to $X per ton, which is down by -31.2% against the previous year. Overall, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 131% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Alumina Imports

Imports into Chile

In 2022, purchases abroad of alumina increased by 3.2% to X tons, rising for the second year in a row after three years of decline. Overall, imports posted a slight expansion. The pace of growth appeared the most rapid in 2021 with an increase of 114%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, alumina imports shrank to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 97%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest alumina supplier to Chile, with a 50% share of total imports. Moreover, alumina imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-13.8% per year) and Germany (+8.1% per year).

In value terms, China ($X) constituted the largest supplier of alumina to Chile, comprising 40% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by Germany, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +28.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.6% per year) and Germany (+8.3% per year).

Import Prices by Country

In 2022, the average alumina import price amounted to $X per ton, which is down by -11.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :