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Chinese bauxite ore reserve is low, accounts for less than 10% of global total
Edited by : AL CIRCLE
1 min read
Over the past five years, revenue for the Aluminum Ore Mining industry in China has been increasing at an annualized rate of 14.9% to $3.7 billion. Aluminum prices dropped sharply in the second half of 2008 and remained at relatively low levels during 2009 due to weak demand stemming from the global recession.
With the recovery in the global economy in 2010 and 2011, aluminum and bauxite prices increased again. Fluctuations in the global aluminum market were reflected in this industry. The slowdown of downstream industries in China has limited revenue growth in the past few years. In 2013, revenue is set to grow 10%.
China is relatively poor in bauxite ore reserves and resources. The country´s total bauxite ore exploration accounts for less than 10% of the global total. Furthermore, nearly 80% of domestic bauxite resources contain low-content ratios, resulting in poor competitiveness on the global market.
With the recovery in the global economy in 2010 and 2011, aluminum and bauxite prices increased again. Fluctuations in the global aluminum market were reflected in this industry. The slowdown of downstream industries in China has limited revenue growth in the past few years. In 2013, revenue is set to grow 10%.
China is relatively poor in bauxite ore reserves and resources. The country´s total bauxite ore exploration accounts for less than 10% of the global total. Furthermore, nearly 80% of domestic bauxite resources contain low-content ratios, resulting in poor competitiveness on the global market.
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