Guinea bauxite exports to China bring cost advantages! Citi: China Hongqiao (01378.HK) upstream layout poised for payoff, target price HK$48

Zhito Finance APP has learned that Citi stated in a research report released recently that in recent years, China's aluminum industry has become increasingly dependent on imported bauxite. Since 2020, China's bauxite imports have grown rapidly, with a growth rate far higher than that of aluminum output (the end use of bauxite). Against the backdrop of Chinese companies advancing projects at an unprecedented pace to supply the Chinese market, Guinea has become an important source of China's imported bauxite.