18 JANUARY 2016Bauxite Index
The CBIX index remains flat during January third week
Edited by : AL CIRCLE
1 min read
The CBIX index remained flat leading into the Malaysian mining ban, which takes effect this week. CBIX was down 1.8% (US$0.9/dmt) to US$47.6/dmt as non-Malaysian cargos continued to display variable (and mostly lower) ViU pricing. Both panamax and capesize freight rates fell further, on the back of lower oil prices and lower vessel charter rates.
Malaysian bauxite prices were unchanged, with unwashed bauxite fetching US$26.0/dmt FOB and the corresponding CFR price (ViU adjusted) down 1.1% (US$0.4/dmt) to US$35.4/dmt, due to adjustments in freight rates.
The current bauxite price lows are starting to be felt across the industry, with ASX bauxite junior Australian Bauxite Ltd suspending operations to conserve cash after failing to find a buyer for its maiden shipment. Other non-Malaysian producers are reporting significantly lower delivered prices heading into 2016.
Malaysian bauxite prices were unchanged, with unwashed bauxite fetching US$26.0/dmt FOB and the corresponding CFR price (ViU adjusted) down 1.1% (US$0.4/dmt) to US$35.4/dmt, due to adjustments in freight rates.
The current bauxite price lows are starting to be felt across the industry, with ASX bauxite junior Australian Bauxite Ltd suspending operations to conserve cash after failing to find a buyer for its maiden shipment. Other non-Malaysian producers are reporting significantly lower delivered prices heading into 2016.
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