China’s bauxite imports in May 2024, following a peak in April, reversed and stood below 14 million tonnes. According to China customs data, the country imported 13.549 million tonnes, registering a month-on-month decline of 4.84 per cent from 14.2376 million tonnes and year-on-year fall of 4.63 per cent.
China’s bauxite imports decreased in May after two consecutive months of increase. China’s total bauxite imports in the first five months of 2024 amounted to 64.1288 million tonnes, slightly up from the corresponding period of the earlier year.
Mainstream sources of ores
Guinea continued to be the top supplier, albeit with a lower volume of ores than the previous month. According to customs data, Guinea supplied 9.4174 million tonnes of bauxite to China, which edged a fall of 10.27 per cent M-o-M and 3.67 per cent Y-o-Y, accounting for 69.51 per cent of China’s total imports versus 73.72 per cent in the previous month. This downfall in Guinean bauxite imports could be attributed to frequent shipment disruptions due to the approaching rainy season.
From January to April, China’s bauxite imports from Guinea totalled 46.9112 million tonnes, which, however, reflected a slight increase over a year, owing to the expansion of some bauxite projects and, therefore, more shipments from them.
The loss in China’s bauxite import share from Guinea was offset by Australia with higher volume of ore supply than in April. Australia exported 3.5755 million tonnes of bauxite to China, demonstrating an increase of 14.07 per cent M-o-M from 3.1345 million tonnes and a 36.55 per cent Y-o-Y hike.
From January to May, China’s total bauxite imports from Australia were 14.6773 million tonnes, up 23.62 per cent Y-o-Y. The growth in Australia’s bauxite supply counterbalanced China’s total imports from January to May, with a total increase of 2.8046 million tonnes.
Non-mainstream sources
Brazil recovered its third position as a bauxite supplier to China, exporting 195,900 tonnes in May. In April 2024, Brazil was overshadowed by Turkey, which supplied 222,900 tonnes versus 54,000 tonnes by the former.
China imported 126,700 tonnes from Ghana, followed by Laos 89,100 tonnes, Turkey 56,200 tonnes, Sierra Leone 47,700 tonnes, and Malaysia 40,500 tonnes. In total, these countries exported 556,000 tonnes of bauxite to China in May 2024, accounting for 4.10 per cent of the latter’s total imports.
Outlook for June
According to SMM, close attention is needed on China’s port arrivals and shipments as the rainy season gradually arrives in Guinea, possibly impacting bauxite shipments to China.
Sourced from SMM under the content exchange agreement
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