China Imported 17.514 Million mt of Bauxite in May, with Non-mainstream Ores Accounting for a Larger Share Again [SMM Analysis]

SMM June 20 report:

According to the General Administration of Customs of China, in May 2025, China imported 17.514 million mt of bauxite, down 15.32% MoM and up 29.43% YoY. From January to May 2025, China's cumulative bauxite imports reached 85.2872 million mt, up 25.84% YoY.

(HS code: 26060000)

Regarding the mainstream import sources of bauxite:

In May, China imported 13.2234 million mt of bauxite from Guinea, down 20.97% MoM and up 40.65% YoY. The impact of Guinea's rainy season gradually became evident, with port departures in May reaching approximately 16 million mt, a 3.67% decrease from April. In terms of weekly average port departures, the average for the five weeks in May was 3.5977 million mt, compared to 3.8592 million mt for the four weeks in April and 3.8552 million mt for the four weeks in March. It is expected that the total volume of bauxite imported by China from Guinea in June-July will increase significantly.

In May, China imported 2.9598 million mt of bauxite from Australia, up 10.4% MoM and down 17.18% YoY. There were fewer spot transactions of Australian bauxite in bulk in May, with most transactions being executed under long-term contracts. As of June 20, transactions of Australian ore remained sluggish, but the prices of its high-temperature ore have pulled back somewhat from previous levels.

Regarding non-mainstream import sources of bauxite:

In May 2025, China imported bauxite from 14 countries, including Guyana, Malaysia, Brazil, Turkey, and Laos, totaling 1.3313 million mt, up 139.36% YoY and accounting for 7.60% of the total imports.

SMM Commentary:

As of today, maintenance at some alumina refineries in June has concluded, and production has resumed. Meanwhile, considering the cost of ore, buyers' acceptance of high-priced bauxite remains moderate, with news of new production cuts emerging. The operating capacity of alumina refineries has both increased and decreased, and it is expected that demand for bauxite will fluctuate in the short term. As the impact of Guinea's rainy season gradually becomes evident, combined with the uncertainty surrounding Guinea's bauxite mining rights, weekly port departures may decline, and the bauxite supply may shift towards a tighter situation. However, in the short term, port arrivals of bauxite may remain high. It is necessary to continuously monitor the price trends and port departure changes of Guinea's bauxite, as well as the supply situation of bauxite from other sources.

(The above information is based on market collection and comprehensive assessment by the SMM research team. The information provided in this article is for reference only. This article does not constitute direct advice for investment research decisions. Clients should make cautious decisions and should not rely on this as a substitute for independent judgment. Any decisions made by clients are unrelated to SMM.)

Data source: SMM Click on SMM Industry Database for more information

(Jiayi Qiu 021-5166 6898)