A Chinese firm plans to enter into bauxite purchase & sale contracts with Alcoa World Alumina and Shanxi Aokaida Chemical

AL Circle

A report revealed on Tuesday, February 6, that Shanghai Ace Investment & Development Co., Ltd., a China-based company engaged in supply chain logistics and supply chain implementation of the trading business, mulls over signing bauxite purchase and sale contracts with Alcoa World Alumina LLC and Shanxi Aokaida Chemical Co., Ltd.

A Chinese firm plans to enter into bauxite purchase & sale contracts with Alcoa World Alumina LLC and Shanxi Aokaida Chemical Co., Ltd.

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This contract's signing and smooth implementation is expected to enable Shanghai Ace Investment & Development Co., Ltd. to generate potential operating results. According to the deal, the company will provide transportation services before the cargo rights shift.

The contract mentions a few clauses, such as, in case of any significant changes in the external macro environment, like alternations in relevant national policies, fluctuations in bauxite demand and prices, or other unforeseen factors, both parties may fail to achieve the expected profit. It also notes that any external hindrance to factory production may lead to the inability to fulfil the contract promptly.

The transaction currency of the purchase contract is USD. If there are any major fluctuations in exchange rates, Shanghai Ace Investment should be open to accepting the adverse impact.

Under the contract with Alcoa World Alumina LLC and Shanxi Aokaida Chemical Co., Ltd., Shanghai Ace Investment will purchase and sell 1,080,000 wet tonnes of bauxite in six batches, each containing 180,000 wet tonnes.

After the contract is signed, Shanghai Ace Investment & Development Co., Ltd. shall not cancel the contract. If the company still cancels or refuses to perform the contract, it will bear the liability for breach by paying 30 per cent of the total contract amount.

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