The price of bauxite exported from Guinea to China continues to rise after the coup in Guinea

The price of bauxite exported from Guinea to China continues to rise after the coup in Guinea

Affected by the military coup d’etat in Guinea, the price of bauxite exported from Guinea to China has continued to climb, reaching almost the highest point in a year and a half.

Guinea is the second-largest bauxite producer in the world and the largest exporter in China. Bauxite is Guinea’s main export product, which can be used to refine alumina used in aluminum production.

Asian Metal’s last valuation concluded that the price of bauxite exported from Guinea to China was US$50.50 a metric ton, which was a 1% increase from Friday and reached the highest point since March 16 last year. The price of bauxite has risen by approximately 16% this year.

The military coup that took place in Guinea on Sunday also allowed aluminum prices to continue to climb, setting new highs in the past few years.

But the coup did not have an immediate impact on the production of bauxite in Guinea. Statistics from Guinea’s mining sector show that Guinea produced 88 million tons of bauxite last year.

Bob Adam, a Guinea bauxite industry expert, said, “The coup is very unlikely to have a significant short-term impact on exports. With the end of the rainy season and inventory reduction, exports in September are always at the lowest part of the cycle.” “Any new government It will ensure that future profits and investments are not destroyed.”

Guinea’s coup leader Mamady Doumbouya said Monday that the curfew imposed in the mining area has been lifted.

A spokesperson for Aluminium Corp of China said that its bauxite industry in Guinea is operating normally.

Singapore TOP International Holding, which owns two bauxite mines in Guinea, said that the conditions of the two bauxite mines in Guinea are stable and continue to operate after “minimal disruption.”