02 JUNE 2014AlCircle.com
China’s stocks of Bauxite dwindle, chances of aluminium to rise
Edited by : AL CIRCLE
1 min read
The mineral export ban imposed by Indonesia has come into effect since January while the effects seem to be quite apparent in Nickel market but haven’t affected the aluminium price. It may change soon.
Despite the ban, the prices of aluminium have remained fixed in 2014. Indonesia accounted for about 60% of the exports of bauxite globally from 2007-2013. In the year 2013, China got approximately 68% of bauxite it required for refining of aluminium from Indonesia. Wall Street Daily reports the total figure was 48.7 mn metric tons.
While China was aware of the plans of Indonesia’s ban, it started stockpiling ore from months before the ban. With stockpiling declining now and chances of getting exhausted within a year it has become a thing of concern for China. China produces half the total global output of aluminium.
On May 28, cash price of primary aluminium rose 1% to INR 108.30 ($1.83) per kg. Cash price of aluminium declined by 0.2% on LME to $177 per metric tonne. On LME, the three-month aluminium
Despite the ban, the prices of aluminium have remained fixed in 2014. Indonesia accounted for about 60% of the exports of bauxite globally from 2007-2013. In the year 2013, China got approximately 68% of bauxite it required for refining of aluminium from Indonesia. Wall Street Daily reports the total figure was 48.7 mn metric tons.
While China was aware of the plans of Indonesia’s ban, it started stockpiling ore from months before the ban. With stockpiling declining now and chances of getting exhausted within a year it has become a thing of concern for China. China produces half the total global output of aluminium.
On May 28, cash price of primary aluminium rose 1% to INR 108.30 ($1.83) per kg. Cash price of aluminium declined by 0.2% on LME to $177 per metric tonne. On LME, the three-month aluminium
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