SMM

The Guinean rainy season‘s end has seen a recovery in bauxite arrivals at ports, but these are mainly fulfilling long-term contracts, with scarce spot supplies. In this tight market, holders are firm on prices; some Guinean bauxite spot prices hit 73-76 $/mt, but no sales confirmed. Australian bauxite also remains scarce in the spot market with no transactions reported. Long-term bauxite import contracts for 2024 are being negotiated, with CIF offers above 70 $/mt. No actual signings reported yet. SMM forecasts Q1 2024 long-term contract prices may range between $69-71/mt.