Chinese imported bauxite stocks up by 0.8% MOM in late July
2014-08-01 09:12:36 [Print]
BEIJING (Asian Metal) 1 Aug 14 - According to the latest data from Asian Metal, imported bauxite stocks bounced back mildly by 0.8% MOM to around 35 million tonnes in late July, the first time for rebound in the past five months. From March to June, imported bauxite stocks kept a monthly sliding in China, but rebounded a bit in late July because of the soft demand and increasing bauxite import.
The above graph shows that imported bauxite stocks kept declining from this March but stabilized gradually from July. Chinese alumina refineries in Shandong province cut production in Q2 due to the sluggish alumina market, resulting in soft demand for imported bauxite. Meanwhile, China explored many new bauxite resources successfully like Malaysia recently. Australia and India increased their bauxite export to China in June, which also added to the rising figure in the graph.
In spite of the moderately rebounding alumina market recently, Chinese alumina refineries still face big pressure in resuming normal production, because they can hardly earn profit. As a result, the demand for imported bauxite is more likely to keep weak and stocks for the material may not see obvious change in the coming month. In view of the faltering demand, there is limited room for the imported bauxite price to go up, although India raised export tax from 10% to 20% in July.
According to data released by Asian Metal, Chinese consumption for imported bauxite was around 3 million tonnes in July, the same with the earlier month. The stable figure indicated that Chinese alumina refineries in Shandong province did not cut production further in July and most refineries maintained a stable production.
The following graph tells us that Chinese demand for imported bauxite dropped largely in April because of the reducing alumina production in the month.
The above graph shows that imported bauxite stocks kept declining from this March but stabilized gradually from July. Chinese alumina refineries in Shandong province cut production in Q2 due to the sluggish alumina market, resulting in soft demand for imported bauxite. Meanwhile, China explored many new bauxite resources successfully like Malaysia recently. Australia and India increased their bauxite export to China in June, which also added to the rising figure in the graph.
In spite of the moderately rebounding alumina market recently, Chinese alumina refineries still face big pressure in resuming normal production, because they can hardly earn profit. As a result, the demand for imported bauxite is more likely to keep weak and stocks for the material may not see obvious change in the coming month. In view of the faltering demand, there is limited room for the imported bauxite price to go up, although India raised export tax from 10% to 20% in July.
According to data released by Asian Metal, Chinese consumption for imported bauxite was around 3 million tonnes in July, the same with the earlier month. The stable figure indicated that Chinese alumina refineries in Shandong province did not cut production further in July and most refineries maintained a stable production.
The following graph tells us that Chinese demand for imported bauxite dropped largely in April because of the reducing alumina production in the month.
Caustic Soda 32%min Delivered China
Unit:RMB/mt 100-basis
China alumina producers' suspension number statistics by province by month
Unit: pcs
