According to SMM data, domestic bauxite production in February 2024 (29 days) totaled 4.0183 million tons, a month-on-month decrease of 16.19% and a year-on-year decrease of 20.27%.
Overall, there was no news of the resumption of production in domestically suspended mines in February. The Spring Festival holiday was approaching in the middle of the month, and some mines were suspended during the holidays, which affected bauxite output. Domestic mines showed a significant month-on-month decline in February.
As of now, there is no clear news about the resumption of production in domestic mines that were originally suspended. According to SMM research, Henan’s Sanmenxia bauxite mine has no plans to resume production in the short term, mainly due to environmental protection issues. Regarding the resumption of production at the Sanmenxia bauxite mine in Henan, the market generally holds pessimistic expectations. Some may start resume production in May-June, and some may not resume production in the first half of the year.
According to SMM research, there is no clear expectation for the resumption of production of bauxite mines in Shanxi that were originally suspended.
A gas accident occurred in a Shanxi coal mine on March 10, and an underground warehouse collapse accident occurred on March 11. There were casualties, which may make it more difficult for the mine to resume production, but the current policy is still unclear. According to SMM research, some mines were undergoing safety inspections in mid-March, and it may be difficult for the mines to resume full production in the short term.
At present, it may be difficult for domestic mines to resume production in a short period of time, and domestic mine production may not see significant growth in March. However, as the Spring Festival holiday has passed, as bauxite mines gradually resume production, domestic mineral production is expected to remain stable or increase slightly.
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