Low-price transactions were reported successively, and the quoted prices for imported bauxite were lowered. [SMM Bauxite Weekly Review]

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SMM April 24 News:

Domestic bauxite:

The domestic bauxite market remained stable this week.

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

Imported bauxite:

According to data on April 18, the weekly total bauxite arrivals at domestic ports were 4.2039 million mt, a decrease of 1.5102 million mt WoW. The weekly total bauxite departures from main ports in Guinea were 3.3155 million mt, a decrease of 672,000 mt WoW. The weekly total bauxite departures from main ports in Australia were 646,100 mt, a decrease of 435,400 mt WoW.

In terms of prices, a small number of bauxite transactions were inquired this week. At the beginning of the week, the inquired transaction price was around $85-86/mt. Later in the week, the inquired transaction price further decreased, equivalent to approximately $80/mt for standard grade (45% alumina content, 3% silicon dioxide content). The SMM imported bauxite CIF index price decreased by $5.6/mt WoW to $83.11/mt. The Guinea bauxite CIF price decreased by $5/mt WoW to $83/mt.

SMM Brief Review: Overall, bauxite prices are expected to remain under pressure in the short term. Concentrated alumina maintenance and production cuts have led to a decline in operating capacity, reducing the demand for bauxite. Coupled with the loss pressure on alumina enterprises, some companies have shown a more obvious tendency to drive down bauxite purchasing prices. Under the surplus pressure of bauxite, sellers' offers have also decreased to varying degrees. Recently, some offers of $75-80/mt have been reported in the market, and whether they are transacted remains to be further verified. In the short term, bauxite prices are expected to show a downward trend.

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