Shandong Hualian Mining to reduce iron ore fine production
2023-04-26 08:15:26 [Print]
BEIJING (Asian Metal) 26 Apr 23 - Shandong Hualian Mining Co. (Shandong Hualian Mining), a major producer of iron ore fines in Zibo, Shandong province, would cut the production by about 7,000t month on month to around 43,000t in April, said a sales official of the company.
"Because of the decreased supply of crude iron ore, we would just produce about 43,000t of iron ore fines in April, down from around 50,000t last month," revealed the source. According to him, they still have zero stock in hand at the moment, in line with last month.
Based on the average grade of crude iron ore 27%min in the mines and the daily processing capacity of ore of around 7,000t in the concentrator, Shandong Hualian Mining produces iron ore fines 65%min. With an annual production capacity of about 1.2 million tonnes, the company produced about 127,000t of iron ore fines in Q1 of this year and around 500,000t in 2022.
The current mainstream prices of iron ore fines 65%min stand at RMB1,041/dt (USD151/dt) Inc-VAT EXW D/A 180 days in Zibo, down by RMB12/dt (USD1.74/dt) from last week. Insiders predict that Chinese origin iron ore prices would drop further in the coming week due to the price decrease of imported iron ore at ports and in international market.
"Because of the decreased supply of crude iron ore, we would just produce about 43,000t of iron ore fines in April, down from around 50,000t last month," revealed the source. According to him, they still have zero stock in hand at the moment, in line with last month.
Based on the average grade of crude iron ore 27%min in the mines and the daily processing capacity of ore of around 7,000t in the concentrator, Shandong Hualian Mining produces iron ore fines 65%min. With an annual production capacity of about 1.2 million tonnes, the company produced about 127,000t of iron ore fines in Q1 of this year and around 500,000t in 2022.
The current mainstream prices of iron ore fines 65%min stand at RMB1,041/dt (USD151/dt) Inc-VAT EXW D/A 180 days in Zibo, down by RMB12/dt (USD1.74/dt) from last week. Insiders predict that Chinese origin iron ore prices would drop further in the coming week due to the price decrease of imported iron ore at ports and in international market.
