25 MARCH 2014Shanghai Metal Market
China’s Bauxite Imports Tumble to 3.23 Million Tonnes in February
Edited by : AL CIRCLE
1 min read
China registered a sharp drop in imports of bauxite in February due mainly to few arrivals from Indonesia, Shanghai Metals Market learnt.
Inbound shipments tumbled to 3.23 million tonnes in February, down 23.86% year-on-year. Total imports were 11.23 million tonnes during the first two months of 2014, up 20.49% year-on-year, according to customs data.
Indonesia remained the top supplier of imported bauxite in February, contributing to 2.13 million tonnes, but the share was off 22.15% year-on-year. Arrivals of goods from Indonesia would continue to fall in the future due to the ongoing export ban by the country, according to SMM.
Imports from Australia and India were 895,500 tonnes and 53,800 tonnes, down 1.02% and 88.34% year-on-year, respectively. China also sourced the material from the Dominican Republic, with volumes unchanged at 151,900 tonnes.
The average CIF price of imported bauxite rose to $53.06 per tonne in February, up 2.75% month-on-month and 8.22% year-on-year. The rise in price is due mainly to growing imports of high-cost goods from other countries after Indonesia imposed a ban on unprocessed ore exports, SMM believed. Such a rising trend is expected to continue.
Inbound shipments tumbled to 3.23 million tonnes in February, down 23.86% year-on-year. Total imports were 11.23 million tonnes during the first two months of 2014, up 20.49% year-on-year, according to customs data.
Indonesia remained the top supplier of imported bauxite in February, contributing to 2.13 million tonnes, but the share was off 22.15% year-on-year. Arrivals of goods from Indonesia would continue to fall in the future due to the ongoing export ban by the country, according to SMM.
Imports from Australia and India were 895,500 tonnes and 53,800 tonnes, down 1.02% and 88.34% year-on-year, respectively. China also sourced the material from the Dominican Republic, with volumes unchanged at 151,900 tonnes.
The average CIF price of imported bauxite rose to $53.06 per tonne in February, up 2.75% month-on-month and 8.22% year-on-year. The rise in price is due mainly to growing imports of high-cost goods from other countries after Indonesia imposed a ban on unprocessed ore exports, SMM believed. Such a rising trend is expected to continue.
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