SHANGHAI, Sep. 9 (SMM) – Malaysia decided to extend bauxite mining ban from September 14 to December 31, the Minister of Natural Resources and Environment said in a press conference.
The mining ban will likely be extended by another six months, should bauxite stocks fail to be depleted before December 31, the minister added.
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China has seen dramatic declines in bauxite imports from Malaysia since the ban took effect earlier this year. Customs data showed the share of Malaysia in China’s bauxite imports fell from 40% in January to just 4.2% in July.
China’s bauxite imports tumbled 32% in July compared with January, due to Malaysia’s mining ban and yuan’s depreciation.
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SMM learned that trading activity for Malaysian bauxite has turned slightly active. But, mining ban extension and upcoming monsoon mean exports from the country are unlikely to see big growth, SMM predicts.
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