Sino-Australian FTA has no influence on Chinese bauxite imports from Australia
2014-11-21 09:21:44 [Print]
BEIJING (Asian Metal) 21 Nov 14 - China and Australia signed the Free Trade Agreement (FTA) on November 17, 2014, which will have no influence on Chinese bauxite imports from Australia, as there was no export duty for Australian bauxite before.
A bauxite exporter from Australia noted that there was no bauxite export duty before, so the FTA would not affect the bauxite export market. “We do have exported more bauxite to China this year, because we halted one alumina refinery, leaving more bauxite for exports,” said the source, noting that their original bauxite capacity is stable.
Regarding the rising price from USD58/t to USD61/t CIF China by China Customs, the source claimed that the price did not change actually, because the bauxite quality improved.
According to China Customs, China imported around 11.4 million tonnes of bauxite from Australia from January to September, 2014.
A Chinese bauxite consumer confirmed that the FTA would not have influence on the Australian bauxite import market, since there was no export duty before at all. “We consume around 400,000t of bauxite per month and fulfill long-term contract with one Australian bauxite supplier,” said the source, noting that Australian bauxite supply is enough for their consumption.
According to the source, they hold enough bauxite stocks for consumption in more than eight months. “I think the alumina price will keep above RMB2,600/t (USD426/t) ex works next year,” said the source.
In addition, the consumer also imported some bauxite from Malaysia recently and the price was a bit higher than USD30/t FOB Malaysia. “The quality for Malaysian bauxite is bad and we have to mix with other kinds of bauxite for refinery,” said the source, who predicted Malaysia may issue some policy for bauxite exploit next year .
A bauxite exporter from Australia noted that there was no bauxite export duty before, so the FTA would not affect the bauxite export market. “We do have exported more bauxite to China this year, because we halted one alumina refinery, leaving more bauxite for exports,” said the source, noting that their original bauxite capacity is stable.
Regarding the rising price from USD58/t to USD61/t CIF China by China Customs, the source claimed that the price did not change actually, because the bauxite quality improved.
According to China Customs, China imported around 11.4 million tonnes of bauxite from Australia from January to September, 2014.
A Chinese bauxite consumer confirmed that the FTA would not have influence on the Australian bauxite import market, since there was no export duty before at all. “We consume around 400,000t of bauxite per month and fulfill long-term contract with one Australian bauxite supplier,” said the source, noting that Australian bauxite supply is enough for their consumption.
According to the source, they hold enough bauxite stocks for consumption in more than eight months. “I think the alumina price will keep above RMB2,600/t (USD426/t) ex works next year,” said the source.
In addition, the consumer also imported some bauxite from Malaysia recently and the price was a bit higher than USD30/t FOB Malaysia. “The quality for Malaysian bauxite is bad and we have to mix with other kinds of bauxite for refinery,” said the source, who predicted Malaysia may issue some policy for bauxite exploit next year .