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, in 2009 Q2 were 1545 dollars (1475 dollars/tonne in 2009 Q1). For the western countries only this average was 1403 dollars (1286 dollars in 2009 Q1). 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 1954 dollars/tonne FOB plant (1949 dollars in 2009 Q1) under current conditions. If prices fall below 1545 dollars, the average smelter is not covering operating costs.