Chinese demand for Guinean bauxite keeps strong
2023-04-18 08:38:30 [Print]
BEIJING (Asian Metal) 18 Apr 23 - Over the past two weeks, prices for Guinean bauxite Al2O3 45%min SiO2 3%max kept stable at USD65-67/dt CIF China. Chinese demand for Guinean bauxite remains strong now and buyers would increase inventories before the rainy season in Q3. Prices would get support at the current level in the coming week.
A trader of bauxite from China reported that they already sold close to 1 million tonnes of Guinean bauxite so far this month, far more than around 200,000t in Q1 this year. "We lately sold around 180,000t of Guinean bauxite Al2O3 45%min SiO2 3%max late last week at a price a bit higher than USD66/dt CIF China," said the source, who now offers around USD67/dt CIF China and anticipates stable prices this week.
The trader, with the regular sales volume of around 200,000tpm, sold around 200,000t in March and around 1 million tonnes so far this month, with no inventory now. They sold over 1.8 million tonnes in 2022 and over 1 million tonnes so far this year.
An alumina producer from China confirmed that their consumption volume of Guinean bauxite would double to around 450,000tpm from this June, so they need add more inventories. "We lately ordered around 170,000t of Guinean bauxite Al2O3 45%min SiO2 3%max one month ago at the price a bit higher than USD66/dt CIF China," said the source, who believes that the price might remain stable in the coming week. They hold around 500,000t in stock now and the volume might reach 800,000t one month later.
The consumer, with the consumption capacity of 5.4 million tonnes per year, would use around 250,000t in April, the same as last month. They used around 3.7 million tonnes in 2022 and over 700,000t in Q1 this year.
A trader of bauxite from China reported that they already sold close to 1 million tonnes of Guinean bauxite so far this month, far more than around 200,000t in Q1 this year. "We lately sold around 180,000t of Guinean bauxite Al2O3 45%min SiO2 3%max late last week at a price a bit higher than USD66/dt CIF China," said the source, who now offers around USD67/dt CIF China and anticipates stable prices this week.
The trader, with the regular sales volume of around 200,000tpm, sold around 200,000t in March and around 1 million tonnes so far this month, with no inventory now. They sold over 1.8 million tonnes in 2022 and over 1 million tonnes so far this year.
An alumina producer from China confirmed that their consumption volume of Guinean bauxite would double to around 450,000tpm from this June, so they need add more inventories. "We lately ordered around 170,000t of Guinean bauxite Al2O3 45%min SiO2 3%max one month ago at the price a bit higher than USD66/dt CIF China," said the source, who believes that the price might remain stable in the coming week. They hold around 500,000t in stock now and the volume might reach 800,000t one month later.
The consumer, with the consumption capacity of 5.4 million tonnes per year, would use around 250,000t in April, the same as last month. They used around 3.7 million tonnes in 2022 and over 700,000t in Q1 this year.
