… internationally in Aug’26 — and China’s domestic ore shortages expected to persist in August, Guinea’s bauxite shipments have started a non-seasonal ramp-up.
Loadings reached 4.6 Mt/wk last week, up +123% YoY. The rebound reflects both improving economics and a relatively mild rainy season amid El Niño conditions.
Bauxite prices have recovered +21% from their Mar’26 low, including +2$/t over the past two weeks.
However, margins remain compressed for second-tier miners as freight rates have risen YoY, meaning FOB prices need to rise for exports to accelerate sustainably.
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