As of August 29, Mysteel's daily assessment for Guinea bauxite (Al:45 per cent,Si:3 per cent) was USD 74.5/dry metric tonne, rising USD 0.5 per dry metric tonne from a week ago. The assessment for Australia bauxite (Al:50 per cent,Si:6.5 per cent) remained flat at USD 69 per dry metric tonne.
China's domestic bauxite supply remained constrained by the wet season and environmental policy, supporting prices at high levels. Market participants are optimistic about the supply and stability of bauxite in Shanxi after policy adjustments, but it is unlikely to see significant improvement in the short term.
In terms of seaborne bauxite, Guinea bauxite (45 per cent,Si:3 per cent) prices continued to edge higher last week amid low supply of spot cargo from the top supplier.
On the supply side, Mysteel data showed that Guinea's total bauxite shipments over August 22-28 were 3.39 million tonnes, up 11.8 per cent on week. Despite the increment in weekly shipments, the wet season and supply disruptions will keep the shipments at low levels in the near term.
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