India SOI global mining bauxite production will resume at the end of September
The annual production capacity of 3 million tons of bauxite in India SOI Global Mining Corporation, plans to the end of September to restore a bauxite production, the company sources revealed to the Asian metal.
The source said, affected by rainfall, the company suspended the production of bauxite in early June. The rainy season may be finished at the end of September, "the source said.
The company produced about 500 thousand tonnes of bauxite in the first half of this year, down 50% from a year earlier. Due to sluggish demand in the Chinese market, the bauxite production was reduced in the first quarter of this year, and they plan to produce about 400 thousand bauxite a month in the four quarter. The company has an inventory of about 150 thousand tons, producing about 1 million 700 thousand tons of bauxite last year.
The company produces bauxite mainly exported to China, and plans to export about 500 thousand tons in the fourth quarter to the United states.
At present, India 43% alumina silicon 7% bauxite China CIF steady at $37-39 / ton. As Malaysia will stop bauxite exports, the company expects India bauxite prices in the fourth quarter or will rise to 40 U. S. dollars / ton.