SHANGHAI, Aug. 31 (SMM) – China’s appetite for imported bauxite grew significantly in July due to rapid expansions in the country’s alumina capacity, SMM understood.
Bauxite imports hit 5.06 million tonnes in July, up 63.52% year-on-year and 25.26% month-on-month, customs data showed.
China imported 2.28 million mt of bauxite from Malaysia in July, 45.07% of national imports due to price attractiveness of Malaysian ore. China’s imports of Malaysian bauxite might surpass 17 million mt this year, well above forecast made early this year.
Malaysian bauxite continued to gain favor thanks to its price attractiveness. Malaysia shipped 2.28 million tonnes of bauxite to China in July, 45.07% of China’s total imports. Average CIF price of Malaysian bauxite was $46.3 per tonnes, 16.37% lower than Australian ore and 23.38% lower than Indian ore.
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