Peopledaily.com.cn
Alumina prices surge on bauxite tariff
Edited by : AL CIRCLE
1 min read
The ex-factory price of alumina from Aluminium Corporation of China Limited (CHALCO),China's largest producer of the metal, rose to 2,900 yuan ($455.33) per ton Friday, up 3.6 percent compared with the previous day.
The company claims that its bauxite supplies have been affected by Indonesian policies, which are behind the recent price spike. Since May, Indonesia has been raising export tariffs on mineral products, including bauxite, a key component for alumina. In response, CHALCO will likely cut alumina output by 15 percent this year compared with 2011.
Five of China's largest alumina makers, including CHALCO, have proposed an initiative for the whole industry to cut output by 10 percent to stale the market.
The company claims that its bauxite supplies have been affected by Indonesian policies, which are behind the recent price spike. Since May, Indonesia has been raising export tariffs on mineral products, including bauxite, a key component for alumina. In response, CHALCO will likely cut alumina output by 15 percent this year compared with 2011.
Five of China's largest alumina makers, including CHALCO, have proposed an initiative for the whole industry to cut output by 10 percent to stale the market.
Previous article
Labour unrest leads to curfew at Utkal Alumina plant
Next articleAneka Tambang of Indonesia Seeks $2.6 Billion for Metal Projects
Grow with
AL Circle
