Customs data showed that China imported 11.8629 million mt of bauxite in March, up 5.19% MoM but down 1.43% YoY.
By country
Imports by country and their changes in March: Guinea (8.8221 million mt, -0.77% MoM, - 0.52% YoY); Australia (2.4808 million mt, +23.39% MoM, +18.51% YoY); Brazil (146,800 mt); Turkey (134,600 mt); Ghana (123,400 mt); Côte d'Ivoire (91,200 mt); Laos (64,000 mt); Papua New Guinea (2 mt).
Main sources of bauxite imports
In March, China's total bauxite imports from Guinea slightly decreased both MoM and YoY. From January to March, total bauxite imports from Guinea were 26.998 million mt, up 4.17% YoY. Overall, SMM expects Guinea to remain the main contributor to China's bauxite imports in 2024.
In March, China's bauxite imports from Australia increased both MoM and YoY. From January to March, the total bauxite imports from Australia reached 7.9673 million tons, up 24.59% YoY.
Non-mainstream sources of bauxite imports
In March 2024, 560,000 mt of bauxite were imported from Brazil, Turkey, Ghana, Côte d'Ivoire, Laos and Papua New Guinea, accounting for 4.72% of the total.
In January-March 2024, China's bauxite imports increased slightly by 2.16% YoY. The overall import of bauxite improved, but the increase was not obvious. In the first quarter, bauxite imports only increased by 768,300 mt YoY, alumina production increased by 655,600 mt, and domestic bauxite output decreased by more than 3 million mt. The increase in bauxite imports could not cover the increase in domestic demand, boosting the prices of imported bauxite. In the second quarter, the CIF price of Guinea imported ore remained high, and that of Australian imported ore slightly increased by $2/mt. In April, the domestic bauxite arrivals slightly increased, and domestic bauxite imports may slightly rise.
