SHANGHAI, Oct. 10 (SMM) – The Indonesian government recently released its benchmark prices for bauxite exports for October. The export benchmark prices for bauxite of three grades fell slightly from those in June, with the biggest fall at 10.54%.
Indonesia has released its benchmark price for bauxite exports from June this year, which the Indonesian Ministry of Finance uses to check export prices and settle taxes. SMM understands that actual bauxite export prices will change slightly based on the price set by Indonesia.
According to SMM’s statistics, China’s imports of Indonesian bauxite have dropped considerably since June after Indonesia restricted bauxite exports in May. China imported merely 945,400 mt of bauxite from Indonesia in August, down 67.66% YoY. In other news, some domestic alumina producers have decided to invest in building alumina projects in Indonesia, including Corporation of China (CHALCO ) and Chongqing Bosai Minerals Group.