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China’s bauxite inventories continued to increase last week despite higher prices and ongoing concerns over supply from Guinea. Stocks held at Chinese ports reached 32.4 million tonnes, up 24 per cent year-on-year and the highest level recorded since 2022. However, inventories remain around 20 per cent below the five-year peak of 39 million tonnes.
{alcircleadd}At the same time, the price of Guinea’s 45 per cent grade bauxite rose by USD 1 per tonne week-on-week to USD 69.5 per tonne CFR China. Despite the price increase, the rise in inventories indicates that the Chinese market remains well supplied.
The growing stockpiles may also point to longer-term changes in China’s aluminium supply chain. The country’s domestic bauxite mining is getting more expensive and less competitive as its workforce ages. The country is shifting toward higher-value manufacturing, so it now relies more on imported bauxite. This makes building larger stockpiles important to keep supply secure.
To know the long-term bauxite market forecast, book our report: “Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook”
Meanwhile, China’s aluminium industry is benefiting from low electricity costs and from production disruptions at some Middle Eastern smelters. These factors pushed China’s exports of unwrought aluminium and semi-fabricated aluminium products up 15 per cent year-on-year to 0.63 million tonnes in May 2026.
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