This week, the domestic bauxite market remained quiet, with stable operations. As of today, in Shanxi, the self pick-up price of bauxite with an Al/Si ratio of 5.0 and 60 per cent alumina content, excluding VAT, at the crushing plant, was approximately RMB 580-620 per tonne; in Henan, the self pick-up price of bauxite with an Al/Si ratio of 5.0 and 60 per cent alumina content, excluding VAT, at the crushing plant, was around RMB 550-590 per tonne; in Guizhou, the self-pick-up price of bauxite with an Al/Si ratio of 5.5 and 58 per cent alumina content, excluding VAT, at the crushing plant, was RMB 410-450 per tonne; in Guangxi, the self-pick-up price of bauxite with an Al/Si ratio of 6.0 and 53 per cent alumina content, excluding VAT, at the crushing plant, was RMB 320-335 per tonne.
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Imported bauxite market:
According to data on July 10, the total weekly port arrivals of bauxite at domestic ports were 4.1175 million tonnes, a decrease of 481,700 tonnes from the previous week; the total weekly port departures of bauxite from main ports in Guinea were 2.5781 million tonnes, a decrease of 15,000 tonnes from the previous week; the total weekly port departures of bauxite from main ports in Australia were 1.3801 million tonnes, an increase of 302,200 tonnes from the previous week.
In terms of prices, the spot bulk cargo transactions of imported bauxite remained sluggish this week, with overall stable prices. As of Thursday this week, the CIF price of Guinea bauxite was reported at USD 74 per tonne, unchanged from Thursday last week; the SMM imported bauxite index was reported at USD 74.32 per tonne, an increase of USD 0.02 per tonne from Thursday last week. In the short term, the bauxite market fundamentals are expected to remain relatively loose, and the impact of reduced shipments from Guinea is expected to be reflected in the domestic port arrival data in August. In the short term, imported bauxite prices are expected to fluctuate rangebound.
SMM commentary:
The weekly port departures of bauxite from main ports in Guinea have declined for three consecutive weeks. Based on a 45-day shipping time, it is expected that there will be a significant decrease in port arrivals in August. According to SMM, the inventory of bauxite at ports and alumina refineries remains high. In the short term, the market is not expected to experience a significant shortage, and bauxite prices are expected to fluctuate rangebound in the short term.
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