Australia’s Alumina Limited (AWAC) has forecast alumina output at 12.8mn mt in 2021, unchanged from the actual production in 2020 while its aluminum production is slated to touch 163,000mt, slightly higher than last year.
The alumina-aluminum producer and bauxite miner indicated in its earnings statement on Tuesday that the 2021 alumina production forecast was based on a 2.9mn mt projected global surplus of alumina, ex-China, and the expectation that around 4mn mt of alumina capacity may be added in China during the year.
In 2020, AWAC’s aluminum production decreased by 1,000mt to 160,000mt from 161,000mt in 2019, whereas alumina output increased by 200,000mt to 12.8mn mt from 12.6mn mt in 2019.
Of its total alumina output in 2020, 4.78mn mt was produced at its Pinjarra refinery, followed by 2.88mn mt at Wagerup, 2.10mn mt at Kwinana, 1.53mn mt at Alumar, and 1.55mn mt at the San Ciprian refinery. All the refineries, except San Ciprian, reported increased output compared to 2019.
The company shipped 13.2mn mt of alumina in 2020, up 2.3pc from 12.9mn mt in the previous year, though its average realized price fell 20.2pc to $268/mt last year from $336/mt in 2019.
AWAC reported a net profit of $402mn in 2020, down from $565mn in the previous year. Its EBITDA also fell to $896mn last year from $1.26bn in 2019.