SMM July 2nd News:
In terms of domestic bauxite supply, according to SMM's calculations, China's bauxite production in June 2025 (30 days) decreased by 3.2% MoM and increased by 4.1% YoY.
Regarding inventory, according to SMM data, in June 2025, the total inventory of bauxite raw materials at domestic alumina refineries increased by 3.0% MoM and by 8.7% YoY. As of June 27th, SMM reported a total bauxite inventory of 23.35 million mt at nine ports, with an increase of 1.79 million mt in port bauxite inventory compared to the previous month-end and a buildup of 9.37 million mt compared to the beginning of the year. Fundamentals side, bauxite continues to be in surplus, with inventory buildup continuing at ports and within alumina refineries.
SMM Brief Commentary:
For domestic bauxite, affected by recent inspection work, domestic bauxite production has declined, with production expected to recover after the inspection work concludes.
For imported bauxite, shipments from mainstream countries remained high in the early stage, and domestic imported bauxite arrivals in July are expected to remain high, with bauxite expected to maintain a loose supply situation and continue to experience inventory buildup.
