China's import prices of Guinean bauxite down
2023-03-08 08:23:12 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Since early this month, the bauxite supply from Guinea increased and suppliers cut offers. Present mainstream prices for Guinean bauxite Al2O3 45%min SiO2 3%max keep at USD65.5-67.5/dt CIF China, down by USD1/dt from one week ago. Consumers in China hold sufficient bauxite stocks and anticipate lower prices.
A bauxite trader in China reported that they now offer USD65/dt CIF China for Guinean bauxite Al2O3 45%min SiO2 3%max and would close new deals of around 600,000t for Q2 soon this month. "We lately sold around 600,000t of the same quality bauxite at around USD67/dt CIF China late last year," said the source, adding that his regular end user now holds stocks lasting for around three months, up from around two months. The source predicted that the price would keep no more than USD65/dt CIF China in the coming two weeks.
The trader, with the regular sales volume of around 200,000tpm, sold around 200,000t in February, similar to January. They sold around 3 million tonnes in 2022 and around 600,000t so far this year, with no inventory in hand now.
An alumina producer from China confirmed that they could not accept the price above USD67/dt CIF China for Guinean bauxite Al2O3 45%min SiO2 3%max now and do not take a hurry to place new orders this month. "We lately ordered around 400,000t of Guinean bauxite at a price above USD68/dt CIF China late last year," said the source, adding that current stocks could last for three months excluding unfinished old contracts over 1 million tonnes. For the sufficient supply, the source anticipated that bauxite prices would move down in the coming two weeks.
The consumer, with the annual consumption capacity of 3.6 million tonnes, used around 300,000t last month and the volume might keep stable this month. They consumed around 3.6 million tonnes in 2022 and over 600,000t so far this year.
A bauxite trader in China reported that they now offer USD65/dt CIF China for Guinean bauxite Al2O3 45%min SiO2 3%max and would close new deals of around 600,000t for Q2 soon this month. "We lately sold around 600,000t of the same quality bauxite at around USD67/dt CIF China late last year," said the source, adding that his regular end user now holds stocks lasting for around three months, up from around two months. The source predicted that the price would keep no more than USD65/dt CIF China in the coming two weeks.
The trader, with the regular sales volume of around 200,000tpm, sold around 200,000t in February, similar to January. They sold around 3 million tonnes in 2022 and around 600,000t so far this year, with no inventory in hand now.
An alumina producer from China confirmed that they could not accept the price above USD67/dt CIF China for Guinean bauxite Al2O3 45%min SiO2 3%max now and do not take a hurry to place new orders this month. "We lately ordered around 400,000t of Guinean bauxite at a price above USD68/dt CIF China late last year," said the source, adding that current stocks could last for three months excluding unfinished old contracts over 1 million tonnes. For the sufficient supply, the source anticipated that bauxite prices would move down in the coming two weeks.
The consumer, with the annual consumption capacity of 3.6 million tonnes, used around 300,000t last month and the volume might keep stable this month. They consumed around 3.6 million tonnes in 2022 and over 600,000t so far this year.
