Daixian Quancheng to quit iron ore fine production
2023-03-02 08:29:15 [Print]
BEIJING (Asian Metal) 2 Mar 23 - Daixian Quancheng Mineral Products Development Co. (Daixian Quancheng), a major producer of iron ore fines in Xinzhou, Shanxi province, would suspend the production next week with a daily output decrease of about 300t, disclosed a source of the company.
"We would stop the production of iron ore fines next week due to the tight supply of crude iron ore and might not restart the production before the middle of this month," said the source, adding that they would just produce about 1,500t of iron ore fines this month, down from around 7,000t in February. According to him, they still have zero stock in hand now, in line with last month.
Based on the daily processing capacity of ore of about 1,000t in the concentrator and the average grade of crude iron ore of 20%min, Daixian Quancheng produces iron ore fines 65%min with an annual production capacity of around 200,000t. The company produced about 50,000t in 2022 and around 7,000t in the first two months of this year.
The current mainstream prices of iron ore fines 65%min stand at about RMB790/wt (USD114/wt) Ex-VAT EXW D/P in Xinzhou, stable compared with those of last week. Insiders predict that Chinese origin iron ore prices would go down in the coming week because of the price decrease of imported iron ore at ports and in international market.
"We would stop the production of iron ore fines next week due to the tight supply of crude iron ore and might not restart the production before the middle of this month," said the source, adding that they would just produce about 1,500t of iron ore fines this month, down from around 7,000t in February. According to him, they still have zero stock in hand now, in line with last month.
Based on the daily processing capacity of ore of about 1,000t in the concentrator and the average grade of crude iron ore of 20%min, Daixian Quancheng produces iron ore fines 65%min with an annual production capacity of around 200,000t. The company produced about 50,000t in 2022 and around 7,000t in the first two months of this year.
The current mainstream prices of iron ore fines 65%min stand at about RMB790/wt (USD114/wt) Ex-VAT EXW D/P in Xinzhou, stable compared with those of last week. Insiders predict that Chinese origin iron ore prices would go down in the coming week because of the price decrease of imported iron ore at ports and in international market.
