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BEIJING (Scrap Monster): Aluminium Corporation of China Limited (Chinalco), has announced that it will lower its aluminium oxide production by 1.7 million tones in 2012 due to Indonesian export restrictions on the raw material bauxite.

The reduction represents 15.44% of China's production of aluminium oxide, the major material in aluminium production.

Indonesia said that in early May that mineral exporters will face duties of about 20%. The exports of 14 minerals including bauxite are expected to be fully prohibited by 2014.

In addition to Chinalco five other aluminium oxide producers called for a joint move on May 31st 2012 to reduce the production of aluminium oxide by 10% starting in June to stabilize the market.

According to China's General Administration of Customs, China's bauxite imports reached at 5.29 million tones in April, up 29.38% on y-o-y basis. More than 87% of the raw material came from Indonesia. About 60% of China's bauxite is imported.

In 2011, Indonesia supplied 35.79 million tones of bauxite to China to produce 11.93 million tones of aluminium oxide.