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China's Imports of Bauxite Setting New High in September

According to customs data, China imported 6.8142 million tons of aluminum oxide in September, increasing 138.62% compared with the same period last year, and 48.89% growth than August, which has set a new high over the past 20 months.

From: www.iabrasive.comDate: 2015-10-26 08:15:33Views: 723

According to customs data, China imported 6.8142 million tons of aluminum oxide in September, increasing 138.62% compared with the same period last year, and 48.89% growth than August, which has set a new high over the past 20 months. This time, the import volume is only second to 8.0159 million tons of January 2014. At that time, Indonesia announced a ban on bauxite exports, and domestic aluminum oxide production enterprises import a lot of to ensure sufficient inventory.

The day before yesterday, China's National Bureau of Statistics released a piece of news that the output of China's aluminum oxide is 4.74 million tons in September, increasing by 10.7% from a year earlier. From January to September, the total output is of 42.61 million tons, increasing 11.4% from a year earlier. Aluminum oxide production repeatedly sets a new high that has consumed a lot of bauxite inventory.

Because the production growth exceeds the demand growth, aluminum oxide prices continue to fall. In September, China spot aluminum oxide price is about 2200-2400 RMB per ton and it is estimated that the price is still not optimistic in the fourth quarter, because the electrolytic aluminum production has decreased in nearly two months.

The electrolytic aluminum prices continue to fall, and at present, the Yangtze spot aluminum prices have dropped to 10660 RMB/ton, which has already been below the cost of electrolytic aluminum factories. It will cause a lot of electrolytic aluminum factories reduced in production, and at the appointed time has a greater impact for aluminum oxide prices.

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