The Chinese aluminum sector is bracing for the impact on its raw supplies following Guinea's plans to limit its bauxite exports, Bloomberg reported Monday.
The West African nation, the world's largest bauxite producer, will lay out its measures to control its exports as global prices of the ore slumped, the report said, citing Mines and Geology Minister Bouna Sylla.
Guinea's shipments of the ore surged to 183 million tons, helping lower costs for Chinese aluminum companies, Bloomberg said.
"Supply mustn't exceed demand," the news outlet quoted the minister as saying, adding Guinea has to regulate export quantities to bring back prices to "reasonable levels."
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