Bauxite prices remained stable this week, and ore prices are expected to continue facing pressure in the short term. [SMM Bauxite Weekly Review]

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SMM April 17 News:

Domestic Bauxite:

The domestic bauxite market remained stable this week.

As of today, the VAT-excluded self pick-up transaction price for bauxite with an Al/Si ratio of 5.0 and alumina content of 60% in Shanxi was around 600-640 yuan/mt; in Henan, the VAT-excluded self pick-up transaction price for bauxite with an Al/Si ratio of 5.0 and alumina content of 60% was around 550-590 yuan/mt; in Guizhou, the VAT-excluded self pick-up transaction price for bauxite with an Al/Si ratio of 5.5 and alumina content of 58% was around 440-480 yuan/mt; in Guangxi, the VAT-excluded self pick-up transaction price for bauxite with an Al/Si ratio of 6.0 and alumina content of 53% was around 320-335 yuan/mt.

Imported Bauxite:

According to data on April 11, the weekly total bauxite arrivals at domestic ports were 5.7141 million mt, an increase of 2.5903 million mt WoW; the weekly total bauxite departures from main ports in Guinea were 3.9875 million mt, a decrease of 328,000 mt WoW; the weekly total bauxite departures from main ports in Australia were 1.0815 million mt, a decrease of 110,800 mt WoW.

In terms of prices, no new bulk transactions were reported for bauxite this week, but due to the further decline in caustic soda prices in Shandong, the SMM imported bauxite CIF index price decreased by $0.06/mt WoW to $88.71/mt.

Overall, bauxite prices are expected to remain under pressure in the short term. Except for the alumina capacity in Guizhou and Guangxi that uses domestic bauxite and still maintains profitability, most alumina capacity has already entered a state of loss. In the short term, under the pressure of continuous losses in alumina, alumina refineries are expected to have a stronger intention to lower bauxite purchase prices, and bauxite prices may further decline.

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