Some Malaysian bauxite owners suspend production due to prices decline
2015-12-25 08:32:00 [Print]
BEIJING (Asian Metal) 25 Dec 15 - Since last week, low grade Malaysian bauxite prices dropped by RM10/t to RM42-45/t delivered to Kuantan port
A Malaysian bauxite owner reported that they sold around 30,000t of low grade bauxite at USD28/t FOB Malaysia early December. “Although some owners concluded deals at USD25.5/t FOB Malaysia recently for quick payment return late this year, I think no buyer will accept the low price after the Spring Festival,” said the source.
According to the source, current prices for low grade bauxite are around RM42-45/t delivered to Kuantan port, while they sold 60,000t of the material last month at around RM54/t. “We suspended production this month and hold no stock now,” said the source, adding that they plan to supply washed bauxite Al 42-43% after the Spring Festival holiday.
Another bauxite owner in Malaysia confirmed that they suspended the business in December, as the price was too low. “Last month, we sold around 40,000-50,000t of low grade bauxite Al 40%min Si 5%max at RM57/t delivered to port, but now prices declined to RM43-44/t, and we cannot accept it,” said the source, adding that they hold no stock.
As the source revealed, they planned to work together with other owners for washed bauxite and may be able to supply bauxite Al 43-44% next April.
. Although some deals were concluded at USD25.5/t FOB Malaysia this week, most bauxite owners refused to accept the low price and chose suspending production . Some owners planned to supply washed bauxite at higher prices next year.A Malaysian bauxite owner reported that they sold around 30,000t of low grade bauxite at USD28/t FOB Malaysia early December. “Although some owners concluded deals at USD25.5/t FOB Malaysia recently for quick payment return late this year, I think no buyer will accept the low price after the Spring Festival,” said the source.
According to the source, current prices for low grade bauxite are around RM42-45/t delivered to Kuantan port, while they sold 60,000t of the material last month at around RM54/t. “We suspended production this month and hold no stock now,” said the source, adding that they plan to supply washed bauxite Al 42-43% after the Spring Festival holiday.
Another bauxite owner in Malaysia confirmed that they suspended the business in December, as the price was too low. “Last month, we sold around 40,000-50,000t of low grade bauxite Al 40%min Si 5%max at RM57/t delivered to port, but now prices declined to RM43-44/t, and we cannot accept it,” said the source, adding that they hold no stock.
As the source revealed, they planned to work together with other owners for washed bauxite and may be able to supply bauxite Al 43-44% next April.