21 JUNE 2016The Bauxite Index
Bauxite prices seeking direction
Edited by : AL CIRCLE
1 min read
CBIX eased marginally over the week, down 0.7 per cent (US$0.3) to US$45.1/dmt, with ViU-adjusted prices showing some convergence. Malaysian cargos are beginning to re-enter the market, with prices unchanged at US$25-26/dmt FOB for unwashed material (US$29.4/dmt on a ViU-adjusted basis) and US$37/dmt FOB for washed material. Cargos from Australia averaged US$44.6/dmt over the week on a ViU-adjusted basis.
Chinese alumina prices are also treading water, with the North China domestic alumina price unchanged at RMB1,952/t (US$297/t including VAT) and the south down 0.5 per cent (RMB10/t) to RMB1,855/t (US$282/t including VAT). With restarts of around 5 MTPY already this year, China’s domestic alumina supply demand balance seems to have been re-established, at least in the short term. From here, any significant increases in alumina prices are likely to see more capacity come back on-stream, resulting in a proportional increase in demand for bauxite.
Bunker prices edged higher over the week, although Panamax charter rates fell, leading to a net fall in Panamax freight rates. In contrast, Capesize freight rates lifted, due to the fuel price increase combining with increased charter rates.
Chinese alumina prices are also treading water, with the North China domestic alumina price unchanged at RMB1,952/t (US$297/t including VAT) and the south down 0.5 per cent (RMB10/t) to RMB1,855/t (US$282/t including VAT). With restarts of around 5 MTPY already this year, China’s domestic alumina supply demand balance seems to have been re-established, at least in the short term. From here, any significant increases in alumina prices are likely to see more capacity come back on-stream, resulting in a proportional increase in demand for bauxite.
Bunker prices edged higher over the week, although Panamax charter rates fell, leading to a net fall in Panamax freight rates. In contrast, Capesize freight rates lifted, due to the fuel price increase combining with increased charter rates.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Vedanta eyes bauxite auctions for feeding Lanjigarh refinery
Next articleGreenhouse projects on mined-out bauxite lands aiding economic growth in Jamaica
Grow with
AL Circle
