Mysteel: China to see further rise in seaborne bauxite prices

Considering the upward trajectory of alumina prices, strong demand for seaborne bauxite, and the suspension of Metro's shipment in Q1 next year due to the wet season, we expect a further rise in seaborne bauxite prices in the near term.

China saw a further rise in domestic bauxite prices last week amid a consistent supply shortage. Mysteel upgraded the daily assessment for Shanxi bauxite to Yuan640/t, VAT excluded, rising Yuan30/t from a week ago, and Yuan140/t higher than the same period last year. In terms of seaborne bauxite, the supply