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SMM February 13 News:
Domestic Bauxite:
This week, the domestic bauxite market mainly operated steadily.
As of today, the self pick-up transaction price at crushing plants for bauxite in Shanxi with an Al/Si ratio of 5.0 and alumina content of 60%, excluding VAT, was approximately 640-670 yuan/mt; in Henan, the price for bauxite with an Al/Si ratio of 5.0 and alumina content of 60%, excluding VAT, was around 570-610 yuan/mt; in Guizhou, the price for bauxite with an Al/Si ratio of 5.5 and alumina content of 58%, excluding VAT, was 510-550 yuan/mt; in Guangxi, the price for bauxite with an Al/Si ratio of 6.0 and alumina content of 53%, excluding VAT, was 320-335 yuan/mt.
Imported Bauxite:
According to data from February 7, the weekly port arrivals of bauxite at domestic ports totaled 3.1809 million mt, a decrease of 955,900 mt compared to the previous week; the weekly port departures of bauxite from Guinea's main ports totaled 2.6859 million mt, down by 287,700 mt from the previous week; the weekly port departures of bauxite from Australia's main ports totaled 443,100 mt, a decrease of 291,700 mt from the previous week.
In terms of prices, demand side, spot alumina prices continued to decline, and alumina refineries have lowered their acceptance of high-priced bauxite. According to SMM, buyers currently report being unable to accept imported Guinean bauxite priced above $100/mt. Supply side, although suppliers reduced their quotes from high levels before the holiday, considering the newly commissioned alumina capacity and the rigid demand for alumina production, suppliers still showed sentiment to stand firm on quotes. Currently, there is still a tug-of-war between sellers and buyers in the bauxite market, and in the short term, bauxite prices may shift to a volatile trend.
SMM Comments: Alumina prices have dropped significantly, and due to the narrowing profit margins of alumina, bauxite prices faced downward pressure this week. However, the tug-of-war between buyers and sellers has not yet ended, and there remains a significant disparity in spot market quotes for imported bauxite. Suppliers still show sentiment to stand firm on quotes, making it difficult for bauxite prices to see a substantial decline in the short term. In the near term, bauxite prices may enter a phase of volatile adjustment.
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