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Shandong Luzhong Mineral reports dropping iron ore inventory

2019-04-30 09:51:23   【Print】
BEIJING (Asian Metal) 30 Apr 19 - As downstream steel mills return to restock for the coming May, Shandong Luzhong Mineral Co.Asian Metal Copyright0t from one month ago.Asian Metal Copyright, Ltd.Asian Metal Copyright .Asian Metal Copyright, the largest producer of iron ore in Shandong, faced decreasing iron ore inventory in the past week, according to a source from the company.

"Our iron ore inventory drops to 40,000t now, down by 10,000t, or 20%, in the past week, as a result of active purchases of local steel mills," said the source, claiming that demand of domestic iron ore became active after prices of imported iron ore soared in the past month in China, up by about RMB50/t (USD7.4/t) in total from one month ago.

The company, with an annual productdion capacity of 2.5 million tons, produced about 200,000t of iron ore in April, on a par with the prior month.

Prices of iron ore fines 65%min in the are lingered at RMB815-825/t (USD121.1-122.6/t) EXW D/P this Monday, stable from the prior week and up by RMB20/t (USD3.0/t) from one month ago.

.Asian Metal Copyright The company, with an annual productdion capacity of 2.Asian Metal Copyright