Ore side: As of September 17, 2025, the SMM imported bauxite index was at USD 75.44 per tonne, down USD 0.02 per tonne from the previous trading day; the SMM Guinea bauxite CIF average price was at USD 75 per tonne, flat from the previous trading day; the SMM Australia low-temperature bauxite CIF average price was at USD 70 per tonne, flat from the previous trading day; the SMM Australia high-temperature bauxite CIF average price was at USD 61.5 per tonne, flat from the previous trading day; the low-grade bauxite self-pick-up price excluding VAT in Shanxi was at RMB 605 per tonne, flat from the previous trading day.
Currently, domestic ore supply in north China remains tight, but amid ample imported ore supply and high absolute bauxite inventory levels, a buyer's market has emerged with sentiment to drive down prices, leading to a slight decline in bauxite prices. Meanwhile, the alumina supply surplus persists, and prices continue to fall, resulting in low acceptance of high-priced bauxite. In the short term, bauxite prices are expected to remain in the doldrums.
Spot prices: As of September 17, 2025, the SMM alumina index was at RMB 3,050.08 per tonne, down RMB 5.89 per tonne m-o-m; the SMM Shandong alumina index was at RMB 2,971.5 per tonne, down RMB 5.7 per tonne m-o-m; the SMM Henan alumina index was at RMB 3,038.11 per tonne, down RMB 5.09 per tonne m-o-m; the SMM Shanxi alumina index was at RMB 2,998.17 per tonne, down RMB 7.05 per tonne m-o-m; the SMM Guizhou alumina index was at RMB 3,207.57 per tonne, down RMB 10.04 per tonne m-o-m; the SMM Guangxi alumina index was at RMB 3,180.45 per tonne, down RMB 8.12 per tonne m-o-m. D
uring the day, one tender purchase transaction by an aluminium plant was inquired, equivalent to a Shanxi ex-works price of RMB 2,970 per tonne. In the short term, spot alumina prices are expected to continue falling, but the pace of decline is slowing.
