Chinese bauxite deposits have been diminishing for many years...

Chinese bauxite deposits have been diminishing for many years and will run down to a point where the grade is no longer good enough to be viable. The chinese have been increasing their ALUMINA imports to compensate for the decreasing local bauxite mining. Their local bauxite have always been very low quality and are getting lower. Their alumina refinies have been closing and they are switching to importing alumina. Alumina producers like CHALCO are investing in the own bauxite mines in Australia, Vietnam and Indonesia. I expect CHALCO will also refine the bauxite near their new mine sites and ship alumina to China rather than ship bauxite. (sea freight is same for both products, but you only ship half the amount in aluminia- a big cost saving)