As of Feb 2, the aluminum-to-silicon ratio in Shanxi was 5.0, and bauxite containing 60% alumina was about 500-530 yuan/mt without VAT; in Henan, the aluminum-to-silicon ratio was 5.0, and bauxite containing 60% alumina was about 500-540 yuan/mt; in Guizhou, the aluminum-to-silicon ratio was 5.5, and bauxite containing 60% alumina was about 350-410 yuan/mt; in Guangxi, the aluminum-to-silicon ratio was 6.0, and bauxite containing 53% alumina was about 320-335 yuan/mt.

Last week, the supply of bauxite in Shanxi and Henan in the north continued to be tight. According to SMM’s ongoing research, there was little hope of resuming production at the suspended bauxite mines in Shanxi and Henan at the beginning of the year. The spot supply of domestic ore in the north is seriously tight, and some alumina plants have replenished some imported ore to maintain production. However, because the production costs of alumina plants are relatively high and profit margins are limited, it is difficult to accept a sharp increase in ore prices. Domestic ore prices in Shanxi and Henan have remained stable this week. In the southwest China, according to SMM research, the spot supply of bauxite in Guizhou has been tight amid sluggish market. The transaction price of ores has increased. However, because the quotation is still within the quotation range of SMM Guizhou aluminum ore, SMM Guizhou bauxite prices have not been adjusted yet; there have been no major changes in supply and demand in Guangxi, and the contradiction is not obvious. Bauxite prices have mainly remained stable this week.

In terms of imported mines, according to SMM, the spot supply of imported mines remained tight that week and were under long-term orders, with scare spot imported bauxite. The CIF price of Guinea bauxite remained at around US$69-71/mt, and that of Australian bauxite was around US$55-57/mt.