According to Comex Stat, the total export of Brazil bauxite in March was 669,700 tons, increasing 110.69% on month and 30.2% from the same period last year. The main destination countries for Brazil bauxite were Canada and China, with 269,900 tons and 235,500 tons respectively. The total export of Brazil bauxite from January to March was 1.15 million tons, increasing 9.28% on year, of which 285,000 tons were exported to China.
China's imports from non-mainstream source countries have significantly increased driven by the continuous expansion of domestic alumina capacity and the ban on Indonesian bauxite exports. According to Mysteel survey, China saw around 8 million tons of newly added alumina capacity in 2022, all of which consumed imported bauxite. According to Mysteel's survey, China will have nearly 6 million tons of new refining capacity in 2023, and over 20 million tons of proposed capacity in the future, which will also use imported bauxite and continue to boost China's demand for imported bauxite.
However, it is unlikely to see a sharp increase of Brazil bauxite in China due to lack of price advantage and increasing supply from Guinea and Australia.
Brazil Bauxite Exports by Country
Source:Comex Stat