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China's bauxite imports hit a record high again in July, with the rainy season in Guinea becoming more evident

iconSep 12, 2024 13:26
Source:SMM
According to the General Administration of Customs of China, China imported 15.0007 million mt of bauxite in July 2024, up 12.49% MoM. This was also up 16.50% YoY, marking another historical high for monthly imports.

According to the General Administration of Customs of China, China imported 15.0007 million mt of bauxite in July 2024, up 12.49% MoM. This was also up 16.50% YoY, marking another historical high for monthly imports. From January to July 2024, China imported 92.3514 million mt of bauxite, an 8.7% increase YoY. By country: imports from Guinea were 10.4897 million mt in July, up 10.36% MoM and 14.62% YoY; imports from Australia were 3.8866 million mt, up 26.93% MoM and 17.39% YoY; imports from Turkey were 169,800 mt, from Laos 164,200 mt, from Malaysia 134,900 mt, from Côte d'Ivoire 54,500 mt, from Montenegro 50,800 mt, and from Brazil 50,000 mt.
Concerning major sources of bauxite imports:
Bauxite imports from Guinea showed a significant MoM increase in July, primarily due to overcoming the shipping disruptions from April and high pre-rainy season shipping enthusiasm. In January-July 2024, total bauxite imports from Guinea reached 66.7962 million mt, up 8.05% YoY, accounting for 72.33% of the total imports. Starting in July, the impact of the rainy season in Guinea on bauxite shipping became more evident, with a noticeable decrease in shipments during July and August. By the end of August, the impact of the rainy season started reflecting in the numbers for domestic bauxite arrivals.
China’s bauxite imports from Australia increased significantly both MoM and YoY in July. From January to July 2024, total bauxite imports from Australia were 21.6238 million mt, a 19.06% increase YoY, accounting for 23.41% of the total imports. Absolutely speaking, Australian bauxite imports from January-July 2024 increased by 3.46 million mt compared to the same period in 2023 and by 1.93 million mt compared to 2022, mainly due to increased production by Australian mining companies and reduced demand for bauxite owing to alumina production cuts in Australia.
Regarding non-major sources of bauxite imports:
In July 2024, China imported 624,300 mt of bauxite from countries including Turkey, Laos, Malaysia, Côte d'Ivoire, Montenegro, and Brazil, accounting for 4.16% of total imports in July. From January to July 2024, total imports were 3.9315 million mt, an increase of 810,100 mt or 25.95% YoY.
Overall, China’s bauxite imports continued to grow. However, starting in July, the impact of the rainy season in Guinea became more obvious, leading to a noticeable decline in shipment volumes. By the end of August, the amount of domestic bauxite arrivals began to decrease. In August, Guinea’s bauxite shipments are expected to show a slight MoM decline, with a more evident impact anticipated on September’s imports. Short-term, the overall supply of bauxite remains in slight shortfall, with prices fluctuating upward as the primary trend.

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