Suppliers refuse to budge on prices and hold back sales, while the CIF index price of imported bauxite continues to rise [SMM Bauxite Weekly Review]

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SMM News on June 5:

Domestic bauxite market:

The domestic bauxite market remained calm this week, with prices holding steady.

As of today, in Shanxi, the transaction price for bauxite with an Al/Si ratio of 5.0 and 60% alumina content, excluding VAT, for self pick-up at the crushing plant, was approximately 580-620 yuan/mt; in Henan, the transaction price for bauxite with an Al/Si ratio of 5.0 and 60% alumina content, excluding VAT, for self pick-up at the crushing plant, was around 550-590 yuan/mt; in Guizhou, the transaction price for bauxite with an Al/Si ratio of 5.5 and 58% alumina content, excluding VAT, for self pick-up at the crushing plant, was 410-450 yuan/mt; in Guangxi, the transaction price for bauxite with an Al/Si ratio of 6.0 and 53% alumina content, excluding VAT, for self pick-up at the crushing plant, was 320-335 yuan/mt.

Imported bauxite market:

According to data from May 30, the total weekly port arrivals of bauxite at domestic ports were 4.8604 million mt, an increase of 377,800 mt from the previous week; the total weekly port departures of bauxite from main ports in Guinea were 3.1738 million mt, a decrease of 601,700 mt from the previous week; the total weekly port departures of bauxite from main ports in Australia were 1.1392 million mt, a decrease of 53,200 mt from the previous week.

Price trends: This week, the quotes from suppliers of imported bauxite were higher than the previous transaction prices. However, the actual transaction price center for Guinea bauxite is still around $75/mt. As of Thursday this week, the CIF price of Guinea bauxite was reported at $75/mt, an increase of $1/mt from last Thursday; the SMM imported bauxite index was reported at $74.94/mt, an increase of $0.83/mt from last Thursday.

SMM Commentary:Recently, the port arrivals of imported bauxite have remained high, and the bauxite market is expected to maintain a surplus situation. There have been no new developments in the Guinea bauxite incident, and suppliers are reluctant to sell and are refusing to budge on prices. In the short term, bauxite prices are expected to remain stable or hold up well.

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