12th Bauxite & Alumina Seminar
Hotel Okura
Amsterdam, The Netherlands
1-3 March, 2006

Register Now - 10% Discount for MetalFirst Members

As we move into 2006 there is no question that the alumina business will be entering a challenging phase. Spot prices may have risen to as much as 25-30% of LME aluminium quotes in the past year and are hovering above the $500 mark as 2005 draws to a close. However, the market is set to swing into surplus later in 2006 after a period of deficit.

Certainly over the longer term, with more and more aluminium being needed,  in particular in countries such as China and India, there will be need for more alumina ¨C as much as 100m tpy in 10 years' time compared with 60m tpy currently, according to some estimates. But the next three to four years are likely to present some market dislocation, and problems for both new and existing refineries as production costs rise in a surplus market scenario.

Despite the higher prices of late ¨C in particular spot values ¨C the real, long-term trend in alumina prices is downwards, and refinery rates of return are less than spectacular. Energy, raw materials and transport costs are all on the increase, and refineries will be keen to exact a higher price for their alumina from customers as long-term contracts are rengotiated.

A whole plethora of expansions and indeed greenfield refinery projects are now on the drawing board, from Southeast Asia to Africa, Russia to Brazil, India and the Middle East. The economics of some are more attractive than others: proximity of bauxite reserves and availability of low-cost energy will play a greater than ever role in project viability in the next few years.

Metal Bulletin's 12th Bauxite & Alumina Seminar, to be held early in 2006, will provide the perfect arena in which to review, analyse and predict what challenges and opportunities lie ahead, and identify who will be the winners and the losers in the coming years in this key segment of the aluminium industry supply chain.

? the short, mid- and long-term outlook for spot market values
? challenging the 12.5% ceiling ¨C is a higher LME percentage on the cards?
? how big and how sustained will the surplus be?
? what impact will Chinese demand and industry policy have on global balances?
? is there a future for import-based refineries?
? to renew or not to renew ¨C the long-term contract basis
? how much alumina is required longer term?
? which refineries will supply it, and when?
? where are the best bauxite reserves, and what will it cost to mine them?

For further details, or to register, please contact Metal Bulletin Events:
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