Anhui Development Mining to decrease the production of iron ore fines
2023-04-11 08:25:53 [Print]
BEIJING (Asian Metal) 11 Apr 23 - As the major producer of iron ore fines in Lu'an, Anhui province, Anhui Development Mining Co. (Anhui Development Mining) would reduce the output from about 275,000t last month to around 250,000t in April.
"Because of the decreased supply of crude iron ore, we would cut the production of iron ore fines by about 25,000t MoM to around 250,000t in April," disclosed a source of the company. According to him, they have an inventory of about 100,000t in hand at present, up from around 50,000t last month.
Based on two grades of crude iron ore of 33%min and 25%min in the mines and the daily processing capacity of ore of about 23,000t in the concentrator, Anhui Development Mining produces iron ore fines 64%min and 65%min with an annual production capacity of around 3.5 million tonnes. The company produced about 2.91 million tonnes of iron ore fines in 2022 and around 808,000t in the first quarter of 2023.
The present mainstream prices of iron ore fines 64%min and 65%min stand at RMB888/dt (USD129/dt) and RMB930/dt (USD135/dt) respectively Ex-VAT EXW 3D/A 180 days in Lu'an, both down by RMB30/dt (USD4/dt) from last week. Insiders expect Chinese origin iron ore prices to go up in the coming week supported by the price increase of imported iron ore at ports and in international market.
"Because of the decreased supply of crude iron ore, we would cut the production of iron ore fines by about 25,000t MoM to around 250,000t in April," disclosed a source of the company. According to him, they have an inventory of about 100,000t in hand at present, up from around 50,000t last month.
Based on two grades of crude iron ore of 33%min and 25%min in the mines and the daily processing capacity of ore of about 23,000t in the concentrator, Anhui Development Mining produces iron ore fines 64%min and 65%min with an annual production capacity of around 3.5 million tonnes. The company produced about 2.91 million tonnes of iron ore fines in 2022 and around 808,000t in the first quarter of 2023.
The present mainstream prices of iron ore fines 64%min and 65%min stand at RMB888/dt (USD129/dt) and RMB930/dt (USD135/dt) respectively Ex-VAT EXW 3D/A 180 days in Lu'an, both down by RMB30/dt (USD4/dt) from last week. Insiders expect Chinese origin iron ore prices to go up in the coming week supported by the price increase of imported iron ore at ports and in international market.
