Gulf Resources Inc. (GURE) said that it recently received notification from the government of Shouguang City. As per the notification, all of the company's bromine and crude salt facilities will be temporarily closed from December 25, 2023 to February 20, 2024.
The company believes the seasonal closure aligns with the government's efforts to address winter air pollution and enhance the overall efficiency of brine resources.
Compared to the 2023 closure from December 10 to February 1, the closure in 2024 means that the company will have an additional 15 days of production in the fourth quarter of 2023 and will lose 19 days of production in the first quarter of 2024.
Winter typically sees slower bromine sales as customers are closed for Chinese New Year holidays, leading to fewer orders before their closure. Further, processing crude salt becomes challenging during the coldest months because of low temperatures, Gulf Resources said.
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