23 JULY 2014Shanghai Metal Market
SMM sees little immediate impact on Chinese alumina producers from Indian bauxite export duty hike
Edited by : AL CIRCLE
1 min read
The Indian government’s decision to double the bauxite export duty to 20% will push up production costs for Chinese alumina producers in the long run, but the immediate impact will be limited as Chinese producers have already built up sizable stockpile, Shanghai Metals Market understood.
China’s imports of Indian bauxite had begun to fall even before the proposal was made, so the proposed hike in the export duty is unlikely to inflict pain on Chinese alumina producers for the foreseeable future. Inbound shipments of Indian bauxite tumbled 25.7% year-on-year to 547,000 tonnes in May. Year-to-date imports through May also plummeted 70.1% to 886,000 tonnes.
Besides, Indian bauxite accounted for a mere 10.8% of the combined imports by Chalco (Shandong), Shandong Weiqiao Aluminum & Electricity and Shandong Lubei Chemical – three major importers of bauxite – during the first five months of the year.
China’s imports of Indian bauxite had begun to fall even before the proposal was made, so the proposed hike in the export duty is unlikely to inflict pain on Chinese alumina producers for the foreseeable future. Inbound shipments of Indian bauxite tumbled 25.7% year-on-year to 547,000 tonnes in May. Year-to-date imports through May also plummeted 70.1% to 886,000 tonnes.
Besides, Indian bauxite accounted for a mere 10.8% of the combined imports by Chalco (Shandong), Shandong Weiqiao Aluminum & Electricity and Shandong Lubei Chemical – three major importers of bauxite – during the first five months of the year.
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