SHANGHAI, Nov 24 (SMM) – The President of Indonesia reiterated his plan to halt the exports of all commodity raw materials today, which will suspend the exports of bauxite in 2022, copper in 2023, and tin in 2024.
The President stated that he planned to curb the exports of all commodity raw materials in October.
The restrictions by Indonesia has little impact on the overall supply of bauxite in the short term. The Indonesian products account for 16% the the total imports, falling behind Guinea and Australia. There are sources of other regions. Domestic ports boast more than 24 million mt of imported ore, which can be consumed for about 3 months. Third, the purpose of its restrictions is to increase the output of local alumina companies. Currently, Hongqiao and Nanshan Aluminium have alumina projects. The supply of alumina will not be affected.