According to the data released by the General Administration of Customs on Wednesday, June 22, China’s bauxite import volume reached a record high of 11.97 million tons in May 2022. It increased by 7.6% month on month and 31.4% year on year.
In May, Australia was the main exporter of bauxite to China, supplying 3.09 million tons of bauxite. On a month on month basis, this figure decreased by 0.95%, but increased by 26.6% year on year. According to the General Administration of customs, after the seasonal decline at the beginning of this year, Australia’s bauxite supply to China was relatively stable in May. In the second quarter of 2022, Australia’s bauxite production increased, and China’s imports also increased.
Guinea is the second largest exporter of bauxite to China. In May, Guinea exported 6.94 million tons of bauxite to China, which is the highest level in the past years. On a month on month basis, Guinea’s bauxite export to China increased by 19.08%, a year-on-year increase of 32.9%. The bauxite in Guinea is mainly used in the newly put into operation domestic alumina refineries in bosai Wanzhou and Wenfeng, Hebei. Growing demand has driven Guinea’s ore imports to a new high.
Indonesia was once a major supplier of bauxite to China, exporting 1.74 million tons of bauxite to China in may2022. It increased by 40.7% year-on-year, but decreased by 18.6% month on month. Earlier, Indonesian bauxite accounted for about 75% of China’s total imports. Before Guinea joined the list of importing countries, Indonesian ores were mainly used for alumina refineries in Shandong.
In may2022, other bauxite importing countries of China include Montenegro, Turkey and Malaysia. They exported 49400 tons, 124900 tons and 22300 tons of bauxite respectively.
However, the historical growth of China’s bauxite import shows that the country is increasingly dependent on imported ores. At present, Indonesia has repeatedly proposed a ban on bauxite export, while Guinea’s internal affairs are unstable, and the risk of bauxite export still exists. Z the direct impact will be the price of imported bauxite. Many ore traders have expressed optimistic expectations for the future price of bauxite.
Post time: Jun-27-2022