Bauxite Shipments up16% but Outlook Uncertain

"During the first 11 weeks of 2026, bauxite shipments have surged 16% y/y, driven by strong Chinese demand for Guinean cargoes. Guinean bauxite has remained highly competitive, accounting for 79% of shipments and pushing non-Guinean bauxite shipments down 3% y/y. Bauxite has been one of the fastest growing dry bulk commodities, growing 10% on average between 2021 and 2025,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.

Rising bauxite shipments are driven by China’s need to replace its depleting domestic reserves and by a 3% y/y increase in Chinese aluminium production during the first two months of 2026. China is the destination for 88% of global bauxite shipments and is the world’s largest aluminium producer, accounting for 65% of global output. Bauxite is the main raw material used to produce alumina which is then refined into aluminium.
“Since the capesize segment carries 79% of bauxite cargoes, it has been the major beneficiary of rising shipments, contributing to a 121% y/y surge in the Baltic Exchange’s capesize index so far this year. Bauxite shipments on capesizes have risen 25% y/y which, paired with bauxite’s above average sailing distances, have contributed to higher tonne mile demand. Consequently, bauxite now accounts for around