Chinese electric vehicle manufacturers are helping to support seaborne flows of bauxite, which hit a monthly record in July.
Growing shipments of the ore have been credited with helping to keep demand for capesize and newcastlemax bulk carriers steady, dulling the seasonal volatility of iron ore trading patterns.
Chinese alumina producers have been forced to seek additional bauxite from minor suppliers such as Brazil, Montenegro and Turkey, due to operational challenges at several mines in China, according to shipbroker Howe Robinson.
