China Power Investment Aims to Spend $6 Billion on Guinea Bauxite Refinery

According to General Administration of Customs China imported 8.73 million mt of bauxite in December, up 13.32% month-on-month and 16.4% year-on-year.

SMM is informed that the COVID-19 pandemic prevention and control team in Baise issued the Notice on Orderly Removing Community Control on February 14th, 2022.

Most aluminium plants, especially those using in-house generated power, suffered losses from late October to November due to the surging electricity costs and high prices of raw and auxiliary materials. The shortage of thermal coal caused the costs of thermal power to soar, and the aluminium prices stood low in November, which further aggravated the losses.

The President of Indonesia reiterated his plan to halt the exports of all commodity raw materials today, which will suspend the exports of bauxite in 2022, copper in 2023, and tin in 2024.

As of this Friday, the SMM weighted average alumina price index stood at 3884 yuan/mt, an increase of 64 yuan/mt from before the holiday; Shanxi reported 3850-3950 yuan/mt, an increase of 100 yuan/mt from pre-holiday; Shandong reported 3850-3900 yuan/mt, an increase of 75 yuan/mt compared to before the holiday; Henan reported 3850-3950 yuan/mt, an increase of 50 yuan/mt compared with pre-holiday; Guangxi reported 3700-3700 yuan/mt, Guizhou reported 3800-3900 yuan/mt, both flat from before the holiday; Bayuquan reported 3900-4050 yuan/mt, an increase of 75 yuan/mt from before the holiday.

Domestic alumina prices have repeatedly hit this year’s new highs recently amid brisk trades, with no signs of retreat in the foreseeable future. As of September 9, the SMM weighted average alumina price index stood at 3,189 yuan/mt. The average prices in north and south China were 3,225 yuan/mt and 3,000 yuan/mt respectively.

While China’s domestic alumina prices have fallen 70 yuan/mt since the start of May, SMM sees limited declines in the short term as low stocks will continue to allow sellers to hold offers firm

The volume of China’s alumina exports is set to decline but the downward room is limited as profits remain, SMM believes.

China’s alumina imports are likely to decrease after March volumes hit a 16-year low

This is a roundup of China’s base metals output in March. SMM surveyed major producers in the market to get first-hand information for calculation.