According to the General Administration of Customs, China's bauxite imports reached a historically high level for July 2024, with a month-on-month increase of 12.49 per cent and a year-on-year hike of 16.50 per cent.
The import volume stood at 15.0007 million tonnes in July, compared to 13.3348 million tonnes a month ago. In June, the import volume was down by 1.58 per cent M-o-M, showed Customs data.
From January to July 2024, China's total bauxite imports amounted to 92.3514 million tonnes, reflecting an annual increase of 8.7 per cent.
In July 2024, Guinea, Australia, Turkey, Laos, Malaysia, Côte d'Ivoire, Montenegro, and Brazil were the major sources of China's bauxite imports. From Guinea, China imported 10.4897 million tonnes in July, up by 10.36 per cent M-o-M from 9.5053 million tonnes and 14.62 per cent higher Y-o-Y, attributed to the ease of shipping disruptions since April and pre-rainy season shipping enthusiasm. From January to July, Guinea exported 66.7962 million tonnes of bauxite to China, up 8.05 per cent Y-o-Y.
Guinea was the highest exporter of bauxite to China in July 2024, accounting for 72.33 per cent of China's total imports.
Australia was the second-highest exporter in July, marking a significant increase in export volume in both M-o-M and Y-o-Y. According to Customs data, China imported 3.8866 million tonnes of bauxite from Australia. The volume was 26.93 per cent higher M-o-M and 17.39 per cent more Y-o-Y. During January-July, China's total bauxite imports from Australia were 21.6238 million tonnes, experiencing a year-on-year increase of 19.06 per cent. This staggering growth could be attributed to increased production by Australian mining companies and reduced demand for bauxite owing to alumina production cuts in Australia.
From Turkey and Laos, China imported 169,800 tonnes and 164,200 tonnes of bauxite, while from Malaysia, Côte d'Ivoire, and Montenegro, China imported 134,900 tonnes, 54,500 tonnes, and 50,000 tonnes, respectively. The aggregated import volume from all these countries was 624,300 tonnes, accounting for 4.16 per cent of China's total imports in July 2024.
Ever since Indonesia implemented a ban on the export of bauxite ore, China has become reliant on Guinea and Australia. Even amid the rainy season, Guinea remained the top-most exporter of bauxite to China. A similar trend was also seen during the same period of the last year. Guinea experiences a rainy season from May to November annually, while the dry season spans from December to April. In 2023, Guinea’s bauxite production was 123 million tonnes, up by 19 per cent Y-o-Y.
