What happens when the world’s biggest bauxite supplier produces too much of the one commodity it dominates? Guinea’s bauxite market is offering a striking answer. Record exports have strengthened its position in global trade, but the surge in supply has also pushed prices lower. Australia,...
Imported bauxite prices in China moved slightly higher last week amid improved activity in the spot market. No trend-level shift emerged on the supply-demand side. Although rainy-season disruptions and elevated freight rates continued to weigh on Guinea's export volumes, the country's weekly...
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CBIX rose 3.5 per cent (US$1.7/dmt) over the week, to close at US$49.4/dmt. Higher ViU-priced cargos originating from Guinea and Australia were offset marginally by lower ViU priced cargoes from Brazil and Malaysia, resulting in a net increase to the price. Guinean material is now consistently...
A management level talk is on the cards between the University and Allied Workers Union (UAWU) and of the Noranda Bauxite Company executives in St Ann later this week to review and discuss the proposed redundancy packages for some shop-floor workers. Earlier this year, more than 30 workers were...
The world average bauxite mine site cost fell for the third consecutive year in 2015, decreasing by 8.0 per cent. The strong US dollar and weak energy prices have been the key drivers of cost deflation in the bauxite mining industry. As most of the revenues for third party bauxite mining companies...
Suriname's President Desi Bouterse on Monday urged Caribbean Community (Caricom) member states that are involved in bauxite mining, mining of other industrial metal ores, and oil to unite towards industrialisation rather than continue to be vulnerable to global commodity prices. “Those...
CBIX nudged higher over the week, up 1.5 per cent (US$0.7) to US$45.8/dmt on the back of higher ViU-priced Australian material. Given the current linkages between bauxite prices and alumina prices, we expect to see the former gain further ground, as the rebound in alumina prices begins to flow...
CBIX eased marginally over the week, down 0.7 per cent (US$0.3) to US$45.1/dmt, with ViU-adjusted prices showing some convergence. Malaysian cargos are beginning to re-enter the market, with prices unchanged at US$25-26/dmt FOB for unwashed material (US$29.4/dmt on a ViU-adjusted basis) and...
CBIX eased over the week, down 1 per cent (US$0.4) to US$45.4/dmt. This comes on the back of a low ViU-priced cargo from Guinea and lower Malaysian FOB prices, which have pulled back slightly, to US$25.5/dmt for unwashed material FOB and US$34/dmt CIF. Unwashed grades are reportedly 40.5 per cent...
Bauxite prices in China have shown signs of rising, especially in Shanxi province, where more new alumina capacity came on stream than other regions, reported industry sources. Rising alumina prices gave Chinese alumina producers incentive to restart idled capacity or bring online new capacity,...
CBIX lifted 3.3% (US$1.5/dmt) over the week, on the back of higher ViU-priced cargos from Australia. This was despite Brazilian material being sold at record low prices into China. Higher Australian prices are no surprise, given the recent rally in alumina prices and the link between bauxite and...
Rio Tinto (RIO) stock is rising 0.07% to $27.55 in afternoon trading on Thursday after the London-based mining company said demand for bauxite, a raw material used to make aluminum and alumina, is expected to gain over the next 15 years because of growing production in China. Bauxite demand is...
Bauxite prices remained virtually unchanged, up 0.3% (US$0.1/dmt), to close at US$44.4/dmt for the week. Several lower ViU-priced cargos from Malaysia were recorded, with their prices balanced by a single, higher ViU cargo from Montenegro recording a CBIX (ViU-adjusted) price of US$53.7/dmt. With...
Bauxite prices eased 1.6 per cent (US$0.7/dmt), closing Friday at US$44.2/dmt for the week. Several lower ViU-priced cargos from Malaysia contributed to the marginal decline over the week. Although Malaysian bauxite exports have resumed, mining activities have not - current exports (via Kemaman...
Bauxite prices were up 3.5 per cent (US$1.5/dmt), closing at US$44.9/dmt for the week, driven by higher ViU-priced cargos from Brazil. In Malaysia, AK and Spring Energy have resumed mining and are planning to export through Kemaman port, some 20-30km north of Kuantan port. We therefore expect to...
Bauxite prices remained flat over the week, down slightly (0.1 per cent or US$0.1/dmt) to close at US$43.4/dmt. This was despite higher ViU-adjusted material from Brazil impacting prices. Bauxite exports from Guinea by SMB (Weiqiao) are also influencing CBIX, although it remains unclear what grades...
Exports have experienced a setback in Bua. At least $4 million worth of bauxite remains in Fiji mining sites for a year now despite improvement in the global market. About 70,000 tonnes of bauxite valued at $2.8 million has remained at the Nawailevu stockpile area and 30,000 tonnes worth $1.2m has...
CBIX fell 1.0 per cent (US$0.4/dmt) to finish the week at US$43.5/dmt on April 29. Prices for imported bauxite are keeping low, despite Chinese alumina prices rebounding some 25 per cent from the market lows in January, Bauxite Index reported. Malaysian bauxite prices were unchanged, quoted in the...
Noranda Aluminum Holding Corporation has given its creditors until June 3 to file a claim if they want to be paid as the company goes through bankruptcy proceedings. The Jamaican Government is among Noranda’s creditors. It is owed billions of dollars under the bauxite levy and has been trying to...
An American bankruptcy court judge has given the go-ahead for Noranda Bauxite Limited (NBL) to pull out of its lossmaking, long-term contract to supply Jamaican-mined ore to Sherwin Alumina Company for its refinery at Gramercy on the US Gulf Coast, saying that maintaining the deal would make it...
