Indonesian Antam plans to cut bauxite production
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Update time : 2020-07-30 16:50:18
PT. Antam (Persero) Tbk. (Antam), a large bauxite producer in Indonesia, is planning to produce around 100,000 tons of bauxite in July, decreasing by 100,000 tons from June.
Current buyers are requesting for a lower offer, but the producer refused to lower the price and predicted the sales price for bauxite will most likely stay stable in August when they resumed the production to 200,000 tons, a normal level.
The annual production capacity for the company is 4 million tons, and they only produced 1.3 million tons and had inventories of around 200,000 tons in the first half of this year.
In March 2020, the company received an export quota with a volume of 840,000 tons, which will be mainly exported to China.
