Aluminium Supply Chain — 2026
From bauxite mining to finished products: 5-stage value chain across 6+ origin countries.
5-stage chain
- Bauxite mining — Guinea (#1), Australia, China, Brazil, India
- Alumina refining — Bayer process; high energy intensity; China, Australia, India
- Aluminium smelting — Hall-Héroult electrolysis; China, India, UAE, Russia, Bahrain
- Semis (ingot, billet, slab) — feedstock for downstream
- Finished goods — extrusions, sheet, foil, wire-rod, cans, automotive parts
Top exporters (smelter)
| Country | Indicative output | Key player |
|---|---|---|
| China | ~42 Mt | Hongqiao · Chalco · Yunnan |
| India | ~4 Mt | Hindalco · Vedanta · Nalco · BALCO |
| Russia | ~3.7 Mt | Rusal |
| Canada | ~3 Mt | Rio Tinto · Alcoa |
| UAE | ~2.7 Mt | EGA |
| Bahrain | ~1.5 Mt | Alba |
| Australia | ~1.5 Mt | Rio Tinto · Alumina Ltd |
Key trade exposures
- CBAM (EU) — aluminium is a Phase-1 covered sector; reporting since Oct 2023, financials from 2026
- Section 232 (US) — 10% tariff on aluminium imports; some country exemptions
- Anti-dumping — frequent India/China cases on extrusions, foil, ACPs
- Russia sanctions — Rusal partially sanctioned; LME delisted Russian aluminium 2024
- SME concentration — Indian extruders heavily SME; CBAM compliance burden disproportionate