China's bauxite imports in August surpass previous record despite drop in Australian arrivals
China's bauxite imports have set a new monthly high for August 2024, exceeding the previous month's record by marking M-o-M increase of 3.64 per cent and year-on-year surge of 34.23 per cent.
China incessantly ramped up its bauxite import by volume, taking advantage of lower imported prices compared to domestic rates. In August, while the domestic average price was US$89.24 per tonne, the imported price was US$75.77 per tonne, marking a difference of US$13.47 per tonne.
According to the General Administration of Customs, China imported 15.546 million tonnes of bauxite in August 2024 versus 15.0007 million tonnes in July. From January to August, China's total bauxite imports amounted to 107.8974 million tonnes, up by 11.8 per cent Y-o-Y.
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