Bauxite Imports Hit Record Highs and China's Reliance on Guinea Ore Deepened

SHANGHAI, Apr 19 (SMM) - According to customs data, from January to February 2023, the imports of bauxite were 23.62 million mt, a year-on-year increase of 12.5%. Among them, 17.12 million mt were imported from Guinea, a year-on-year increase of 48.7%; 4.3 million mt from Australia and 1.36 million mt from Indonesia, a year-on-year decrease of 12.9% and 68.2% respectively.

In particular, the total imports of bauxite in January stood at 12.38 million mt, hitting a record high. Among them, 9.21 million mt were imported from Guinea, accounting for 74.4% of the total imports and also hitting a record high. The total imports in February were 11.24 million mt, of which 7.92 million mt were imported from Guinea, accounting for 70.5% of the total imports and hitting the second highest point.

Judging from the import data, after the end of the rainy season in Guinea, the ore supply and transportation, lightering and loading capacity increased significantly. That is why the monthly import from Guinea approached 8 million mt, making it the biggest bauxite supplier to China. Australia's ore shipments were relatively stable, and the import volume fluctuated narrowly. Imports from Indonesia dropped sharply in March. Although foreign media reported that the Indonesian government is considering resuming the export of raw materials and processed minerals after June 10, SMM research shows that Indonesia has not made it clear to adjust the ban on exports. There are only two months left before the implementation of Indonesia's ban on bauxite export, and SMM will continue to pay attention.