According to China's General Administration of Customs, domestic bauxite imports in April 2026 totaled 19.743 million mt, down 9.4% MoM and 4.6% YoY. From January to April 2026, domestic cumulative bauxite imports reached 77.728 million mt, up 14.7% YoY. In April 2026, domestic imports of Guinean bauxite totaled 16.423 million mt, down 9.4% MoM and 1.9% YoY. From January to April 2026, domestic cumulative imports of Guinean bauxite reached 62.964 million mt, up 18.5% YoY.
From January to April, shipments from Guinea remained at elevated levels, with domestic cumulative port arrivals up over 18% YoY. The domestic bauxite fundamentals were in a state of persistent oversupply, with inventory at ports and alumina refineries continuing to accumulate. As of late May, according to SMM data, domestic total bauxite inventory approached 90 million mt, an inventory buildup of approximately 10 million mt since the beginning of the year. In May, ocean freight rates remained elevated, with dry mt freight rates at approximately $38-40/mt. Miners faced high costs, with some experiencing losses, and Guinean bauxite enterprises began to reduce shipments successively.
According to GoGo Trade data, the daily average bauxite shipments from Guinea's main ports from January to April were 627,000 mt, 670,000 mt, 717,000 mt, and 715,000 mt, respectively. As of May 22, data showed that the daily average bauxite shipments from Guinea's main ports declined to 559,000 mt/day, down approximately 21.8% MoM. Considering factors such as shipping schedules, domestic bauxite port arrivals are expected to decline starting from late June, with a more notable decrease anticipated in July.
In the short term, high domestic bauxite inventory will keep counterbalancing high-cost bauxite from Guinea, and bauxite prices are expected to fluctuate and adjust.
