We obtained lots of dazzling honors since the opening of the company, and we take these honors as a starting point towards a higher goal. We will forge ahead; make persistent efforts to achieve more results.
China Customs data show that China imported 6.74 million mt of bauxite in April, up 29.72% YoY. YTD imports through April hit 20.65 million mt, also up 14.62% YoY. Bauxite CIF prices in April were USD 51.21/mt, an increase of 18.74% from the same period last year.
China’s imports of Indonesian bauxite in April grew 0.84% YoY and 34.91% MoM to 4.56 million mt, while imports of Australian bauxite soared 113.42% YoY and 70.05% MoM to 1.33 million mt. Imports of Indian bauxite hit 744,000 mt in April, a surge from 50,000 mt in April 2012.
China’s monthly importation of Indonesian bauxite has approached levels seen before the Indonesian government began to restrict exports of raw ore including bauxite in June 2012. Imports of Australian and Indian bauxite also grew significantly.
SMM believes two factors were behind the growth in China’s bauxite imports. First, the Indonesian government has sent no clear signals regarding whether or not it will impose an outright export ban on unprocessed ore in 2014. As such, Chinese alumina producers steeped up bauxite imports for fear of possible raw material shortages in the future. Second, the commissioning of new alumina capacity by Shandong Weiqiao Pioneering and Chongqing Bosai Minerals boosted demand for imported bauxite, also pushing bauxite imports up appreciably.
China’s demand for imported bauxite will remain as trihydrate bauxite overseas is superior to domestic monohydrate bauxite. Demand for Indonesian bauxite, in particular, will remain robust as Indonesian bauxite features lower prices, higher quality and abundant supply.
