Agenda

Module 1: Introduction

• Outline of course content

• Supply chain introduction

• Secondary metal consumption

• Bauxite to primary overview

• Production and value chain overview

Bauxite mining

• Introduction

• Processing and shipment

Alumina refining

• Refineries

• Digestion

• Red mud storage

• Precipitation

• Calcination

• Transport

Aluminium smelting

• Prebake reduction

• Prebake cell in operation

• Anode production

• Anode consumption

• Prebake potline

• Casthouse features

• Casthouse products

• Value-add in mining, refining and smelting

• Growth comparisons with steel, copper,
nickel and zinc

• Chinese consumption vs. ROW

• Aluminium end-uses

• Substitution trends vs. steel and copper

• Substitution threats and opportunities

• Aluminium by volume and value

• Prices – historical development

• Consolidation and de-integration

• Shift from integration

• Regional production growth

• Top primary aluminium producers

Module 2: Raw Materials

Bauxite

• Supply chain introduction

• Reserves: Location of production

• Bauxite production growth

• Trade flows

• Cost breakdown

• Freight

• Bauxite quality and value-in-use

• Bauxite pricing

Alumina
• Global production

• Location of production

• Cost breakdown

• China’s overseas projects

• Trade flows

• Factors affecting location

• Alumina pricing

• Factors driving alumina prices

• Non-metallurgical uses of bauxite and
alumina
• Company balances in alumina

Caustic soda

• Caustic soda price volatility

• Relationship between caustic soda
production and chlorine

Carbon products

• Use of carbon anodes in smelting

• Production of petroleum coke

• Production of coal tar pitch

• Coal tar pitch, green and calcined coke
balances
• Prices of CTP and PC

• Anodes and anode trade

• Issues in carbon products

Module 3: Primary Aluminium

• Supply chain introduction

• Smelter overview

• Cost structure

• Technology (prebake, Soderberg, inert anodes)

• Location of production - Factors affecting location

• China’s overseas projects

• Power costs and energy sources

• Smelter products

• Cast house products and their uses in semis

• Primary consumption – by sector, by product

• Transport uses and drivers

• Competing materials in the packaging sector

• Competing materials in other sectors

• Aluminium demand drivers

• Demand in Solar PV, BEVs, and Battery
Storage Systems

• Trade flows

• Pricing of primary and primary price history

• Premiums

• Low carbon premiums/green aluminium trade at a premium?

Module 4: Secondary Aluminium

• Aluminium cycle

• Calculation of scrap supply

• Scrap collection

• Production methods: sorting, refining and
remelting

• Share of secondary in automotive

• Location of secondary production and scrap trade flows

• Growth rates of secondary and primary aluminium

• Factors affecting higher recycling rates

• Pricing – remelt and secondary alloys

• Pricing of scrap - different grades

• Case study – Green aluminium and recycling

• Policy, technology and markets

• Recycled metals vs. primary

Module 5: Aluminium Semis

• Position on the supply chain

• Smelter products

• Spread of end uses

• 4 main types of semi-finished product

• Aluminium alloys

Rolled products

• Rolled product production

• Scrap usage in rolled products

• Main rolled product alloys

• Rolled product production by region

• Rolled product production by alloy and
market

• Conversion costs

• Spread of low to high value add products

• Demand growth

• Application, drivers and competition

• Substitution – threats and opportunities

• BEV demand for rolled products

• Growth market in foil stock

• Rolled products trade

• Conversion fees – US and Europe

• Top producers and current issues
Extrusions

• Production process and products

• Global production growth

• Extrusions raw materials

• Consumption by sector

• Applications, drivers, alloys and substitutes

• Pricing

• Industry structure

Castings

• Castings production process

• Primary and secondary foundry alloys production

• Castings raw materials

• Consumption by end use and region

• Castings applications

• Pricing methods

Wire and Cable

• Products and processes

• Raw materials

• Consumption by region

• Wire rod – application, end uses and substitutes

Module 6: Economics

• Long run marginal costs – price anchor

• Calculation of long run marginal costs

• Capital and operating costs in smelting and alumina

• Short run marginal costs

• Fixed, variable and avoidable costs

• Shifts in SRMC

• Fundamental drivers of demand

• Demand cycles

• Role of inventory

• Price and income elasticity

• Price cycles - fundamental causes

• Price cycle boundaries

• Non-fundamental factors – anticipate and
amplify

• Regional premiums

• Cast house product upcharges

• Netbacks

• Price mechanisms across the value chain

• Scenarios and known unknowns

Sustainability and ESG
Sustainability goals milestones
Sustainability issues affecting aluminium companies
Materiality impact and importance for aluminium companies
Industry priorities
Carbon emissions and power source
Aluminium emissions cost curve
Alumina emissions cost curve
Low carbon branding
Forecast GHG emissions
EU’s CBAM scheme
Path to net zero
Recycling and circular economy
Environmental hazards
Other environmental issues
Aluminium stewardship initiative