Chinese interests in Indian bauxite continue
2015-04-02 10:21:50 [Print]
BEIJING (Asian Metal) 2 Apr 15 - In spite of the increasing Malaysian bauxite supply, Chinese buyers still show interest in Indian bauxite. The price for high-grade Indian bauxite Al 48-50% is too high, and buyers focus on low grade bauxite Al 42-45%.
A trader from China revealed that they did not cover bauxite business before, but planned to start the business due to the potential demand. “I met with an Indian bauxite owner yesterday, but they offered USD70/t CIF China for high grade bauxite,” said the source, adding that the owner can supply 50,000t of bauxite per month.
According to the source, the price is too high and Chinese consumers will not accept it. Meanwhile, India does not allow for high grade Indian bauxite export. Therefore, the trader doubted that if the Indian bauxite supplier can provide the material in the future.
Another Chinese trader, who mainly covers alumina business, reported to Asian Metal that they have interest in Indian bauxite. “Indian bauxite suppliers show high expectation on prices, and that is a big problem,” said the source.
The trader noted that the price for Indian bauxite Al 42% Si 6-7% should be USD40/t FOB India, but owners expect higher prices, so conclusions are difficult. “There are many offers in the market,” said the source.
Bauxite Australian Monohydrate 52%min CIF China
Unit:USD/dt
China bauxite producers' sales to production ratio statistics by province by month
Unit: %
