Indonesia's Bauxite Export Ban Will Cause Little Disturbance To Chinese Alumina Production, But Costs Will Hardly Fall

Published: Jun 14, 2023 13:03

Source: SMM

Save

SHANGHAI, Jun 13 (SMM) – Indonesia did not export bauxite to China in April, and the Indonesian government announced that it would officially implement bauxite export ban from June 10, 2023.

SHANGHAI, Jun 14 (SMM) – Indonesia did not export bauxite to China in April, and the Indonesian government announced that it would officially implement bauxite export ban from June 10, 2023. In response to Indonesia’s export ban, a few Chinese alumina refineries have reduced production, while others have basically found new sources of bauxite. As such, this policy will barely disturb the stability of domestic alumina production. However, the export ban is expected to keep bauxite prices at a high level, which will hurt the profit margins of Chinese alumina refineries for a long period of time.

Bauxite imports in April

Country	Import volume (mt)	MoM	YoY
Guinea	8.87 million	+0.5%	+52.3%
Australia	2.86 million	+36.6%	-8.5%
Brazil	152,000	+77.25%	No imports in April 2022
Total	11.997 million	-0.4%	+7.8%

More popular news

Daily Updates on SHFE Base Metals and Stainless Steel Warrants

Manufacturing PMI In Euro Zone And Germany Both Pick Up, But Still In Contraction Territory

Goldman Sachs and Citibank Cuts Iron Ore Price Forecast, with the Former Citing Surplus Steel in China and Slower Recovery of Property Sales

ANZ Bank Is Bearish Towards Iron Ore Prices, Citing Four Big Headwinds In China, Including Real Estate Downturn

Commerzbank Sees Higher Oil Prices, Citing Significantly Tightening Market

Goldman Sachs Sees OPEC+ Meeting As "Moderately Bullish" As Saudi Move Could Offset Some Downside Risks

Steel Scrap Prices Bottomed Out In Late May After Headwinds In Ferrous Metals Market Were Priced In, Wild Price Movement Will Be Monitored In June

Vale Is Advancing Huge Investment, Betting On Strong Demand For High-Grade Iron Ore

South China Battles Power Crisis, The Worst This Year

Aluminium Ingot Inventories In China Fall To Alarmingly Low Level

China’s Steel Exports Jumped, In Contrast To Falling Exports Of Unwrought Aluminium &Aluminium Semis And Rare Earth

Tragedy of Electric Car Catching Fire Immediately After Collision In China’s Hangzhou City Renews Concerns Over Safety Of Nickel-Manganese-Cobalt (NMC 811) Battery

Fitch: Global Trade Is Slowing Sharply And May Grow Only 1.9% This Year

RMB Assets Are More Competitive In The Medium And Long Run Amid Cyclical Global Financial Downturn, Director Of China’s State Administration Of Foreign Exchange Says

China Is Confident, Capable and Qualified to Achieve GDP and Other Goals Set at the "Two Sessions" and YoY Growth Rate of CPI Will Recover to Above 1% by December, Governor of China’s Central Bank Says

Oil Price Downturn To Reverse? Saudi Arabia "Declares War" On Bears, Bulls Betting On $100/barrel

Market forecast Market review Import/Export

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

Guinea, GAC, EGA Reach Settlement to Resolve Bauxite Supply Disputes and Ensure Industry Stability

[SMM Aluminum Express News] Guinea, together with Guinea Alumina Corporation and Emirates Global Aluminium, has reached an amicable settlement to resolve disputes related to GAC’s suspended operations and disrupted bauxite supply. Under the agreement, Guinea will compensate GAC as part of the transfer of assets for the Sangarédi bauxite project, while bauxite supply agreements between Compagnie des Bauxites de Guinée and EGA will be renewed under updated commercial terms, supporting stability in the bauxite-to-aluminum supply chain.

10 hours ago

12 hours ago

LME Aluminum Inventory Declines 0.69% to 360,200 mt on May 6, Down 12.56% Over a Month

[SMM Aluminum News Flash] On May 6, LME aluminum inventory was recorded at 360,200 mt, down 2,500 mt from the previous day, a decrease of 0.69%. Over the past week, LME aluminum inventory decreased by a cumulative 7,975.00 mt, a decline of 2.17%. Over the past month, LME aluminum inventory decreased by a cumulative 51,700 mt, a decline of 12.56%.

12 hours ago

[SMM Flash News] New Expansion of Nag Hammadi Aluminum Complex to Increase Annual Capacity by 300,000 mt

Egyptian Cabinet: The new expansion of the Nag Hammadi Aluminum Complex plans to increase annual capacity by 300,000 mt.

12 hours ago