In H1’23, the bauxite market in Asia experienced fluctuations due to reduced trading activities during the Chinese New Year holiday season. Slow movement led to increased inventories, decreased demand from aluminum industries and electronics markets, and struggle for manufacturers. However, a slight incline was observed later as high-priced imports flooded the region. In Europe, bauxite prices showed mixed trends, impacted by supply chain volatility, inconsistent consumer purchasing, sanctions on Russian metal supply, and reduced domestic production rates. Price trends increased in the later months due to overseas buyers’ support and increased inquiries from traders and refiners. In North America, the market gained momentum as inventories depleted and extraction levels declined.
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Definition
Bauxite is a sedimentary rock composed primarily of aluminum oxide minerals, such as gibbsite, boehmite, and diaspore, along with various impurities. It is the main ore of aluminum and is widely mined for its aluminum content. Bauxite is refined through the Bayer process to extract alumina (aluminum oxide), which is then smelted using the Hall-Héroult process to obtain aluminum metal. Aluminum has numerous industrial applications, including in aerospace, transportation, construction, packaging, and electronics, making bauxite a valuable resource in modern society.
Key Details About the Bauxite Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Bauxite in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Bauxite Price chart, including India Bauxite price, USA Bauxite price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Bauxite Price Trend:
Bauxite has several crucial industrial applications due to its high aluminum content. The primary and most significant use of bauxite is in the production of aluminum metal. After mining, bauxite is refined through the Bayer process to extract alumina (aluminum oxide). The alumina is then smelted using the Hall-Héroult process to obtain aluminum metal. Aluminum is widely used in various industries, including aerospace, transportation, construction, packaging, and electronics, making it a fundamental material in modern society. Additionally, bauxite finds application in manufacturing refractories, abrasives, chemicals, proppants for hydraulic fracturing, and in the cement industry, further highlighting its economic importance and industrial versatility.
Key Players:
- Alcoa Corporation
- Aluminium Corporation of China Limited
- Norsk Hydro ASA
- NALCO India
- Hindalco Industries Ltd
- Emirates Global Aluminium PJSC
News and Recent Development:
- Adani Enterprises announced that they have been the preferred bidders in the bid of bauxite block in Odisha. The group plans to set up an alumina refinery in the vicinity of bauxite reserves. (Dated: 4 March 2023)
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