In May, Australia was a major exporter of bauxite to China, supplying 3.09 million tonnes of bauxite. On a month-on-month basis, the figure fell by 0.95%, but rose by 26.6% year-on-year. According to the General Administration of Customs, Australia’s bauxite supply to China was relatively stable in May after a seasonal drop earlier this year. In the second quarter of 2022, Australia's bauxite production increased, and Chinese imports also increased.

Guinea is the second largest bauxite exporter to China, exporting 6.94 million tons of bauxite to China in May, the highest level in the past few years. On a month-on-month basis, Guinea's bauxite exports to China increased by 19.08%, a year-on-year surge of 32.9%. Growing demand has driven Guinea's ore imports to record highs.

Indonesia, once a major supplier of bauxite to China, exported 1.74 million tonnes of bauxite to China in May 2022. A year-on-year increase of 40.7%, but a month-on-month decrease of 18.6%. Earlier, Indonesian bauxite accounted for about 75% of China's total imports. Before Guinea was added to the list of importing countries, Indonesian ore was mainly used for alumina refineries in Shandong.

Other bauxite importers to China in May 2022 include Montenegro, Turkey and Malaysia. They exported 49,400 tonnes, 124,900 tonnes and 22,300 tonnes of bauxite respectively.

However, the historic increase in Chinese bauxite imports shows the country's growing reliance on imported ore. At present, Indonesia has repeatedly proposed a ban on the export of bauxite, while the domestic political situation in Guinea is unstable, and the risk of bauxite export still exists. The immediate impact will be on imported bauxite prices. Many ore traders have expressed optimism about future bauxite prices.