03 SEPTEMBER 2014Shanghai Metal Market
China’s Bauxite imports up 5.73% MoM in July
Edited by : AL CIRCLE
1 min read
China imported 3.09 million mt of bauxite in July, tumbling 52.55% YoY, but up 5.73% MoM. YTD imports through July totaled 22.61 million mt, down 42.30% from a year ago, China Customs data showed.
Small- and medium-sized alumina producers increased bauxite imports in July as their stocks on hand were about to run out. Malaysian bauxite gained favor as a better alternative to Indonesian bauxite in both quality and price. But low output and poor infrastructure have inhibited massive bauxite outflows from Malaysia.
The Indian cabinet recently approved the increase of royalties on bauxite from 0.5% to 0.6%. Such move might prompt bauxite exporters in India to pass higher costs to Chinese importers. However, even if import prices of Indian bauxite rise, China’s appetite for Indian bauxite will be little affected. Rather, most remain more concerned over the quality of Indian bauxite. Chinese alumina producers preferred Indonesian bauxite over Indian ore on quality concerns before Indonesia implemented its export ban. Nonetheless, Chinese alumina producers – including Chalco and Shandong Weiqao Aluminum & Power – are now ramping up imports of Indian bauxite, mixing the ore with higher-grade bauxite from other countries.
Small- and medium-sized alumina producers increased bauxite imports in July as their stocks on hand were about to run out. Malaysian bauxite gained favor as a better alternative to Indonesian bauxite in both quality and price. But low output and poor infrastructure have inhibited massive bauxite outflows from Malaysia.
The Indian cabinet recently approved the increase of royalties on bauxite from 0.5% to 0.6%. Such move might prompt bauxite exporters in India to pass higher costs to Chinese importers. However, even if import prices of Indian bauxite rise, China’s appetite for Indian bauxite will be little affected. Rather, most remain more concerned over the quality of Indian bauxite. Chinese alumina producers preferred Indonesian bauxite over Indian ore on quality concerns before Indonesia implemented its export ban. Nonetheless, Chinese alumina producers – including Chalco and Shandong Weiqao Aluminum & Power – are now ramping up imports of Indian bauxite, mixing the ore with higher-grade bauxite from other countries.
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