Guinea Customs Suspends Bauxite Exports of EGA Subsidiary GAC

Published: Oct 14, 2024 11:56

Source: SMM

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On October 11, EGA announced that its subsidiary, Guinea Alumina Corporation (GAC), had its bauxite exports suspended by customs.

On October 11, EGA announced that its subsidiary, Guinea Alumina Corporation (GAC), had its bauxite exports suspended by customs. EGA is currently unclear about the reasons for this action but stated normal production at the Al Taweelah alumina refinery. If the issue is resolved in the coming weeks, it is expected not to affect alumina supply. In 2023, GAC exported 14.1 million mt of bauxite, and the Al Taweelah alumina refinery produced 2.48 million mt of alumina. Driven by supply concerns and strong demand, on October 11, SHFE alumina futures prices rose 6.4% from the previous day to 4,630 yuan/mt and soared to 4,778 yuan/mt at the night session, marking the highest level since the contract was listed in June 2023. Meanwhile, an SMM survey found that on October 11, the latest FOB price for alumina in Eastern Australia reached $652/mt, up 21% from the same period last month.

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