March has ushered in a striking divergence in the global bauxite landscape — North America and Asia are grappling with bloated inventories and cooling offtake. Au contraire, Europe, led by Germany, is scrambling to source feedstock amid a sudden uptick in industrial appetite. ChemAnalyst’s latest analysis flags this three-way split as ’a phase of divergence’ for bauxite prices and availability.
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The US: Surplus meets scepticism
On this side of the Atlantic, producers and traders are wrestling with rising stockpiles and diminishing downstream demand. American bauxite prices have slipped as domestic mills and importers bulk up on material even as aluminium smelters pause expansion plans. There have been expansions in production houses, such as Bengang Plates Co.’s joint venture with Ansteel Green Gold Industry Development Co., which has contributed to the factor actively. To put numbers on it, IMARC Group data shows that in Q4 2024, US bauxite fetched roughly USD 75 per tonne, flat with China but down from highs seen earlier in the year, underscoring the price pressure borne by excess supply.
Investing in a new recycling-focused entity strengthens Bengang’s position in northeast China while improving raw material logistics. Meanwhile, aluminium inventories surged in early March, highlighting the increasing availability across major hubs. However, demand is not keeping pace. Additionally, increasing trade tensions, particularly the reciprocal 34 per cent tariffs between China and the US, have dampened export-related activity and undermined sentiment in downstream sectors. With manufacturers turning cautious amidst uncertainty, the ripple effects are visible in the reduced appetite for bauxite.
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