Chinese bauxite import prices see no improvement
2016-03-14 08:57:38 [Print]
BEIJING (Asian Metal) 14 Mar 16 - In spite of continuously rising alumina prices since mid-February, Chinese bauxite import prices remain at low levels. Prices for Malaysian bauxite Al 40% Si 5% stay at around USD26-26.5/t FOB Malaysia, and those for Australian bauxite Al 50% Si 11% are around USD39-40/t CIF China. Demand for imported bauxite remains soft, and prices may not go up in March.
A bauxite owner in Malaysia with annual capacity of 3 million tonnes reported that they exported around 50,000t of bauxite in the first half of March. “The concluded price was around USD26/t FOB Malaysia, down by USD0.5/t compared with that in February,” said the source, adding that Chinese alumina prices increase failed to support bauxite prices.
The owner stopped production in mid-January according to Malaysian ban. They now hold around 100,000t of stocks and offer USD27/t FOB Malaysia for new buyers.
He pointed out that it may take at least two months for Malaysia to resume bauxite mining operation. The price may rebound after stocks in China decreased.
A trader dealing with Australian bauxite disclosed that they are ready to export 90,000t of the material. “We offer USD40/t CIF China for bauxite Al 50% Si 10%,” said the source, adding that they may conclude the deal in March.
It is the first time for them to deal with Australian bauxite. Mainstream prices for the material in 2015 were USD50-55/t CIF China.
The trader plans to provide 30,000-60,000t of Australian bauxite per month in the future.
Asian Metal learnt that prices for Indian bauxite Al 43% Si 7% dropped by USD2/t further in March to around USD47-49/t CFR China due to export duty dip of 5%.
A bauxite owner in Malaysia with annual capacity of 3 million tonnes reported that they exported around 50,000t of bauxite in the first half of March. “The concluded price was around USD26/t FOB Malaysia, down by USD0.5/t compared with that in February,” said the source, adding that Chinese alumina prices increase failed to support bauxite prices.
The owner stopped production in mid-January according to Malaysian ban. They now hold around 100,000t of stocks and offer USD27/t FOB Malaysia for new buyers.
He pointed out that it may take at least two months for Malaysia to resume bauxite mining operation. The price may rebound after stocks in China decreased.
A trader dealing with Australian bauxite disclosed that they are ready to export 90,000t of the material. “We offer USD40/t CIF China for bauxite Al 50% Si 10%,” said the source, adding that they may conclude the deal in March.
It is the first time for them to deal with Australian bauxite. Mainstream prices for the material in 2015 were USD50-55/t CIF China.
The trader plans to provide 30,000-60,000t of Australian bauxite per month in the future.
Asian Metal learnt that prices for Indian bauxite Al 43% Si 7% dropped by USD2/t further in March to around USD47-49/t CFR China due to export duty dip of 5%.
Bauxite 60%min, Al/Si 5.0, Ex-VAT Delivered China
Unit:RMB/mt
Africa bauxite producers' sales to production ratio statistics by country by month
Unit: %
