SMM: China's bauxite imports in April hit a record high for a single month, up 20% MoM

According to the General Administration of Customs of China, in April 2024, China imported 14.2376 million mt of bauxite, setting a new record for monthly imports, up 20.02% MoM and up 18.84% YoY.

By country:

In April, imports from Guinea were 10.4956 million mt (up 18.97% MoM, up 18.51% YoY); imports from Australia were 3.1345 million mt (up 26.35% MoM, up 9.61% YoY); imports from Turkey were 222,900 mt; imports from Ghana were 123,600 mt; imports from Montenegro were 72,300 mt; imports from Brazil were 54,000 mt; imports from Côte d'Ivoire were 53,600 mt; imports from Laos were 45,800 mt; and imports from Malaysia were 35,300 mt.

In April, China's bauxite imports from Guinea saw significant increases both MoM and YoY, with a monthly import volume reaching 10.4956 million mt, setting a historical record. From January to April, the total bauxite imports from Guinea amounted to 37.4938 million mt, up 7.82% YoY. In April, China's bauxite imports from Australia also increased both MoM and YoY, with the total imports from January to April reaching 11.1018 million mt, up 19.96% YoY.

Regarding non-mainstream sources of bauxite imports, in April 2024, bauxite was imported from countries such as Turkey, Ghana, Montenegro, Brazil, Côte d'Ivoire, Laos, and Malaysia, with a total import volume of 607,500 mt, accounting for 4.27% of the total imports in March. The trade of non-mainstream bauxite imports remains relatively active, but overall, the supply increase of non-mainstream bauxite is relatively limited. Due to long transportation distances, high freight costs, and limited production capacity, it is difficult to achieve a significant supply increase.

The spot supply of bauxite in China has been relatively tight for a long time, driving the non-mainstream imported bauxite trade to remain relatively active. However, the average monthly import volume of non-mainstream bauxite is only around 400,000 to 600,000 mt, providing limited supplementary effect.

SMM Brief Review

Overall, Guinea and Australia will continue to be the main contributors to the increase in domestic bauxite supply.

From January to April, China's bauxite import increased by 3.0256 million mt, while the import increase from Guinea and Australia totaled 4.5678 million mt. Excluding the impact of Indonesia's mining ban, the increase from non-mainstream imported bauxite was less than 300,000 mt. The domestic bauxite supply shortage continues as the production halt in Shanxi and Henan has not yet resumed on a large scale. Additionally, recent disruptions in bauxite shipments from Guinea may affect port arrivals and import volumes in May and June. It is necessary to continue to pay attention to bauxite port arrivals and shipment conditions.