| Abstract: | In the 1980s, the basic strategies of the major integrated aluminium companies have been to emphasize added investment in downstream activities at the expense of investment in smelting and raw material supply. The paper examines the rationale for such investment strategies, explores the advantages and disadvantages of downstream investment and presents projections of future demand and capacity in the industry. Overall, the industry appears to be in good shape until the mid-1990s when demand is likely to exceed currently projected capacity. |
