China's May Bauxite Imports Hit 17.514 Million Tons; Share from Non-Traditional Sources Rises Further [SMM Analysis]

According to the General Administration of Customs of China, China imported 17.51 million tons of bauxite in May 2025, a decrease of 15.32% month-on-month and an increase of 29.43% year-on-year. From January to May 2025, China's cumulative bauxite imports reached 85.29 million tons, a year-on-year increase of 25.84%.

(Customs Code: 26060000)

Regarding major import sources of bauxite:

In May, China imported 13.22million tons from Guinea, a decrease of 20.97% month-on-month and an increase of 40.65% year-on-year. The impact of Guinea's rainy season is gradually manifesting. Guinea's outbound shipments in May were approximately 16 million tons, down 3.67% from April. In terms of weekly average outbound shipments, the average for 5 weeks in May was 3.60 million tons/week, compared to 3.8592 million tons/week for 4 weeks in April and 3.86million tons/week for 4 weeks in March. It is expected that China's total imports of bauxite from Guinea may increase significantly in June-July.

In May, China imported 2.96 million tons from Australia, an increase of 10.4% month-on-month and a decrease of 17.18% year-on-year. Spot transactions for Australian bauxite were limited in May, mainly focused on the execution of long-term contracts. As of June 20, transactions for Australian ore remain subdued, but prices for its high-temperature ore have declined compared to earlier periods.

Regarding non-major import sources of bauxite:

In May 2025, China imported bauxite from 14 countries including Guyana, Malaysia, Brazil, Turkey, and Laos, totaling 1.33 million tons. This represents a year-on-year increase of 139.36%, accounting for 7.60% of total imports.

SMM Brief Review:
As of today, maintenance at some alumina refineries has concluded in June, leading to production resumption. Meanwhile, considering ore costs, buyers generally show limited acceptance for high-priced bauxite, and new production cut news has emerged. With both increases and decreases in operating alumina capacity, demand for bauxite is expected to fluctuate in the short term. As the impact of Guinea's rainy season gradually materializes and the issue of Guinea's bauxite mining rights remains unresolved, weekly outbound shipments may decline, potentially shifting bauxite supply towards a tighter pattern. However, bauxite arrivals in China may remain high in the near term. Subsequent attention should remain on Guinea's bauxite price trends and changes in outbound shipments, while continuously monitoring supply conditions from other sources.