SMM January 3 News:
In 2024, the supply gap of bauxite is expected to remain unchanged. Domestic alumina production exceeded expectations, and the increase in bauxite supply could not offset the growth in demand. The bauxite supply gap expanded compared to 2023. Coupled with the continued substantial profitability of alumina, alumina refineries showed increased acceptance of high-priced bauxite, boosting bauxite prices to rise steadily.
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