31 MAY 2016The Bauxite Index
Bauxite prices in China remain virtually unchanged over the week
Edited by : AL CIRCLE
1 min read
Bauxite prices remained virtually unchanged, up 0.3% (US$0.1/dmt), to close at US$44.4/dmt for the week. Several lower ViU-priced cargos from Malaysia were recorded, with their prices balanced by a single, higher ViU cargo from Montenegro recording a CBIX (ViU-adjusted) price of US$53.7/dmt. With no further developments in Malaysia over the week, Malaysian FOB prices remain unchanged in the range US$25/dmt to US$27/dmt (unadjusted) for unwashed material and US$37/dmt for washed material.
Chinese domestic alumina prices continue to tread water, with both the North and South China prices unmoved on RMB1,998/t (US$305/t including VAT) and RMB1,880/t (US$287/t including VAT) respectively. As we reported last week, industry sentiment seems to suggest Chinese alumina prices have reached a plateau for the time being, with a significant amount of restarted capacity keeping a lid on any further price increases. Recent ROW prices appear to be reflecting this sentiment, with Australian FOB prices recently coming off their highs.
Bunker (ship fuel) prices increased slightly over the week, however drops in daily charter rates saw overall Panamax freight rates stay flat, and Capesize rates ease only slightly.
Chinese domestic alumina prices continue to tread water, with both the North and South China prices unmoved on RMB1,998/t (US$305/t including VAT) and RMB1,880/t (US$287/t including VAT) respectively. As we reported last week, industry sentiment seems to suggest Chinese alumina prices have reached a plateau for the time being, with a significant amount of restarted capacity keeping a lid on any further price increases. Recent ROW prices appear to be reflecting this sentiment, with Australian FOB prices recently coming off their highs.
Bunker (ship fuel) prices increased slightly over the week, however drops in daily charter rates saw overall Panamax freight rates stay flat, and Capesize rates ease only slightly.
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