9th May: 170 kt of bauxite from Turkish CTC Mining loaded on a Cape-size vessel arrived at Huanghua port, China, marking the first bauxite shipment from CTC via a Cape-size vessel. A second shipment is scheduled to depart Turkey by end-May. The company exported approximately 280 kt of bauxite to China during the first two months of 2020 using 70 kt Panamax vessels, but decided to switch to Cape-size vessel from March.
Designed with bauxite mining capacity of 3 mtpy, CTC Mining produced 150 kt of bauxite in April with May output estimated at 250 kt. The company currently holds 100 kt of bauxite in stock. CTC produced 600 kt of bauxite in 2019 and its 2020 output target is set at 2.3 mln t.
The company chiefly produced bauxite at Al2O3 53.5%min SiO2 9.5%max grade, the majority of which will be exported to China with current prices at USD41/t CIF China, down by USD10/t from March. The decline in CIF China prices can be attributed to lower sea-freight costs of USD10/t via Cape-size vessel as compared to Panamax.