SHANGHAI, May 4 (SMM) – Chinese buyers have turned to Guinea for bauxite after Malaysia extended ban on bauxite mining by another three months.
Imports from Guinea soared 189% month-on-month to 937,000 tonnes in March, of which 93.7% were imported by China Hongqiao Group alone, customs data showed.
Some alumina producers in Shandong resumed production after alumina prices rebounded, boosting demand for imported bauxite. With more alumina producers restarting idled capacity, China’s bauxite imports will continue growing in the future, SMM expects.
According to China Customs, China imported 5.11 million tonnes of bauxite in March, up 58.6% from February and 16.08% from a year ago. Average CIF price of China’s bauxite imports was $47.54 per tonne in March, down 14.3% year-on-year and 4.8% month-on-month.
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