SHANGHAI, Jun. 25 (SMM) – According to China Customs, China imported 3.775 million mt of bauxite from Indonesia in May, down 30.9% YoY. The CIF price of Indonesian bauxite was USD 51.1/mt, a new monthly high so far this year.
The CIF price of Indonesian bauxite was USD 43/mt before the Indonesian government hiked bauxite export tariff by 20% in June 2012. The CIF price, however, rose to near USD 49/mt afterwards and rose further to above USD 51/mt in May this year.
Prices of imported bauxite are mainly subject to ore grade and sea freight. The sea freight for shipping bauxite from Indonesia and ports of Shandong is now stable at USD 11/mt.