Prices of Domestic Bauxite in Northern China Slightly Decreased; No Further Decline in Imported Bauxite Prices This Week [SMM Bauxite Weekly Review]

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SMM February 27 News:

Domestic Bauxite:

This week, the domestic bauxite market remained stable overall. However, due to spot alumina prices falling to low levels, some high-cost enterprises in Shanxi and Henan faced losses. Domestic bauxite prices were under pressure and saw a slight decline.

As of today, the self pick-up transaction prices at crushing plants excluding VAT are approximately as follows: Shanxi, bauxite with an Al/Si ratio of 5.0 and alumina content of 60%, at 630-670 yuan/mt; Henan, bauxite with an Al/Si ratio of 5.0 and alumina content of 60%, at 560-600 yuan/mt; Guizhou, bauxite with an Al/Si ratio of 5.5 and alumina content of 58%, at 510-550 yuan/mt; Guangxi, bauxite with an Al/Si ratio of 6.0 and alumina content of 53%, at 320-335 yuan/mt.

Imported Bauxite:

According to data from February 21, the total weekly port arrivals of bauxite at domestic ports were 3.212 million mt, a decrease of 694,100 mt compared to the previous week. Weekly port departures of bauxite from Guinea's main ports totaled 3.462 million mt, a decrease of 162,800 mt compared to the previous week. Weekly port departures of bauxite from Australia's main ports totaled 553,700 mt, an increase of 83,700 mt compared to the previous week.

In terms of prices, the SMM Bauxite Index price this week fell slightly by $0.16/mt compared to last Thursday, now reported at $96.26/mt, mainly due to a significant decline in caustic soda prices recently. No further declines in bauxite quotations were observed this week. However, compared to current spot alumina prices, alumina refineries using bauxite at current price levels are still facing losses. Buyers' target prices for bauxite remain below current quotations. Although bauxite holders are still willing to quote, considering buyers' firm intention to lower prices, bauxite prices are likely to fluctuate downward in the short term.

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