Domestic alumina continues net export, spot prices continue to decline

According to Bloomberg, on January 20, 2025, the London Metal Exchange (LME) approved Hong Kong as a warehouse location for the first time, aiming to strengthen ties with the world's largest metals market—mainland China. The Hong Kong warehouse will allow storage of major LME base metals, including copper, zinc, and aluminium, and will be put into use within three months after the first warehouse company and location are approved.

According to China's General Administration of Customs, in December 2024, China imported 14.976 million tonnes of bauxite, up 21.9 per cent M-o-M and 26.2 per cent Y-o-Y. By country, imports from Guinea were 10.386 million tonnes (up 36.7 per cent M-o-M, 26.3 per cent Y-o-Y), and imports from Australia were 3.389 million tonnes (down 8.29 per cent M-o-M, up 6.93 per cent Y-o-Y). From January to December 2024, China cumulatively imported 158.767 million tonnes of bauxite, up 12.3 per cent Y-o-Y.