According to China customs data, the country imported 11.79 million tonnes of bauxite in November 2022, which recorded a month-on-month hike of 31.29 per cent from 8.98 million tonnes and a year-on-year surge of 53 per cent. From January to November 2022, China’s total bauxite imports amounted to 115.4 million tonnes, an increase of 16.9 per cent year-on-year.
Being the primary supplier, Guinea exported 7.28 million tonnes – 65 per cent more than the previous month and 125 per cent higher than a year earlier. The main reasons for the surge in exports were the hearsay that Indonesia would ban bauxite exports, which made Chinese alumina refineries favour Guinean ore as an alternative, increased enthusiasm among Chinese refineries to stock up bauxite at the end of 2022, ramp up of production and exports by Guinean miners to take advance of the supply void following decline in exports from Indonesia, and recovery of mining activities and shipments in Guinea after the end of the rainy season.
China’s bauxite imports from Indonesia grew 28 per cent month-on-month but down 25 per cent on the year reaching 1.36 million tonnes in November. The monthly growth was mostly driven by long-term contracts signed previously. On December 21, Indonesian President announced the ban of export from June 2023 to promote the domestic bauxite processing industry. But SMM expects it to have a very little impact as China will fill the void by procuring the ore from other countries. From January to November 2022, Indonesia accounted for merely 15.6 per cent of China’s total bauxite imports. Moreover, two Chinese enterprises Nanshan Aluminium and Weiqiao Group have alumina projects in Indonesia, with a combined capacity of 4 million tonnes a year. So, they will ship alumina produced in Indonesia back to China.
China’s bauxite imports from Australia were 2.84 million tonnes, down month-on-month by 14 per cent and up year-on-year by 7 per cent. Imports from Australia witnessed relatively small changes in the whole year of 2022 as supply and demand were in a dynamic balance.
In November 2022, new suppliers like Turkey, Ghana, Montenegro, Jamaica, Iran, Côte d'Ivoire, and Russia emerged.
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