According to the recent data released by General Administration of Customs, China imported 8.73 million tonnes of bauxite in December 2021, which reflected a month-on-month increase of 13.32 per cent and a year-on-year hike of 16.4 per cent. From Australia, China imported 2.9 million tonnes of bauxite, up 9.39 per cent M-o-M and 44.14 per cent Y-o-Y.
Guinea, being the leading supplier of bauxite to China, exported 3.56 million tonnes in December 2021, 10.25 per cent more than in November 2021 but 17.13 per cent less than in December 2020. Indonesia exported 2.26 million tonnes, which was 24.53 per cent up M-o-M and 132.17 per cent Y-o-Y.
In the entire year of 2021, Guinea’s bauxite exports to China totalled 54.84 million tonnes, accounting for 51.1 per cent of China’s imports throughout the year. The exports from Guinea to China recorded an increase of 4.2 per cent year-on-year, as China’s dependence on Guinea’s ore resources continued to rise. Huaxing Aluminium, Jiaokou Xinfa, Xiaoyi Xinfa and some inland alumina plants contributed to the increase in demand.
From Australia, China imported 34.08 million tonnes of ore throughout 2021, which accounted for 31.7 per cent of the country’s total imports. However, on a year-on-year calculation, the imports stood 7.9 per cent down, owing to changes in China-Australia trade relations in H1 2021.
China’s bauxite imports from Indonesia in 2021 accounted for 16.6 per cent of the country’s total imports, but down 4.2 per cent year-on-year because of the high probability of another export ban in 2022.
However, China is likely to rely more on the ore imports due to the exhaustion of domestic bauxite. According to the monitoring and forecast of new alumina projects, about 6.6 million tonnes of new capacities will be built in 2022. Among them, two enterprises are estimated to come into operation in the first half of 2022, which include Bosai Wanzhou and Hebei Wenfeng, with a combined capacity of around 4 million tonnes. The rising capacities will create more demand for bauxite imports. For 2022, China’s bauxite imports are expected to come in at 100 million tonnes.
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