Domestic bauxite market: The domestic bauxite market remained calm this week, with stable operations prevailing. As of today, in Shanxi, the transaction price for bauxite with an Al/Si ratio of 5.0 and 60 per cent alumina content, excluding VAT, for self-pick-up at the crushing plant, was approximately RMB 580-620 per tonne; in Henan, the transaction price for bauxite with an Al/Si ratio of 5.0 and 60 per cent alumina content, excluding VAT, for self-pick-up at the crushing plant, was around RMB 550-590 per tonne; in Guizhou, the transaction price for bauxite with an Al/Si ratio of 5.5 and 58 per cent alumina content, excluding VAT, for self-pick-up at the crushing plant, was RMB 410-450 per tonne; in Guangxi, the transaction price for bauxite with an Al/Si ratio of 6.0 and 53 per cent alumina content, excluding VAT, for self-pick-up at the crushing plant, was RMB 320-335 per tonne.
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Imported bauxite market: According to data from May 23, the total weekly bauxite arrivals at domestic ports were 4.4826 million tonnes, an increase of 698,200 tonnes from the previous week; the total weekly bauxite port departures from main ports in Guinea were 3.7755 million tonnes, an increase of 175,700 tonnes from the previous week; the total weekly bauxite port departures from main ports in Australia were 1.1924 million tonnes, an increase of 200,500 tonnes from the previous week.
In terms of prices, the impact of the Guinea bauxite mining rights incident on market sentiment gradually eased this week, and transaction prices did not rise further. As of Thursday this week, the CIF price of Guinea bauxite was reported at USD 74 per tonne, an increase of USD 2 per tonne from last Thursday. Influenced by the concentration of Guinea bauxite transaction prices around USD 73-75 per tonne, the SMM imported bauxite index rose. As of Thursday this week, the SMM imported bauxite index was reported at USD 74.11 per tonne, an increase of USD 1.97 per tonne from last Thursday.
SMM Commentary: There has been no progress in the Guinea bauxite mining rights incident, and bauxite suppliers are not strongly inclined to sell at low prices. However, the operating capacity of alumina has not yet seen a significant rebound. In the short term, the fundamental situation of the bauxite market is expected to remain in a surplus, with general intentions to purchase bauxite at high prices. In the short term, imported bauxite prices are expected to enter a phase of volatile adjustment. Close monitoring of Guinea's supply situation will be necessary in the future.
Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.
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