Bauxite Imports Remain Low in November, Prices Surge Amid Undersupply Concerns

SMM, December 20:

SMM Brief Comment: In November, domestic bauxite import volumes remained relatively low for the year. Amid the undersupply situation, the SMM CIF index for imported bauxite rose from $84.26/mt to $92.44/mt during the month. Entering December, the import volume of Guinean bauxite may rebound, potentially driving an increase in China's total bauxite imports. However, alumina operating rates are expected to remain high, and some enterprises with lower operating rates still show enthusiasm for production expansion, keeping bauxite demand at a high level. As of December 20, the SMM CIF index for imported bauxite had risen to $105.82/mt, while the spot market for bauxite is expected to remain undersupplied, with prices likely to have further room for growth.