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Chalco's Alumina Production hit by Bauxite Export Ban from Indonesia
Edited by : AL CIRCLE
1 min read
Aluminum Corporation of China Ltd (Chalco) confirms lower alumina production by 1.7 million tons following Indonesian bauxite export ban.
“As the downturn of the aluminum market continued, the prices of aluminum decreased by 7% as compared with the corresponding period of the preceeding uear. The grades of the domestic bauxite declined and the restriction on the bauxite export imposed by the Indonesian government lowered the company’s production of alumina by approximately 1.7 million tons,” the company said on recent filing on Hong Kong Stock Exchange.
The lower production and higher price are also resulting 4% increase in the Chalco’s cost of alumina production.
“As the downturn of the aluminum market continued, the prices of aluminum decreased by 7% as compared with the corresponding period of the preceeding uear. The grades of the domestic bauxite declined and the restriction on the bauxite export imposed by the Indonesian government lowered the company’s production of alumina by approximately 1.7 million tons,” the company said on recent filing on Hong Kong Stock Exchange.
The lower production and higher price are also resulting 4% increase in the Chalco’s cost of alumina production.
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