Guangdong Dading Mining to reduce the production of iron ore fines
2023-04-24 08:34:32 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Guangdong Dading Mining Co. (Guangdong Dading Mining), a major producer of iron ore fines in Heyuan, Guangdong province, would cut the production by about 25% MoM to around 60,000t in April, said a source of the company.
"We would reduce the output of iron ore fines from about 80,000t in March to around 60,000t this month because of the decreased supply of crude iron ore," explained the source. Besides, they have an inventory of about 30,000t in hand for the time being against zero stock last month.
Based on the average grade of crude iron ore 30%min in the mines and the daily processing capacity of ore of around 8,000t in the concentrator, the company produces iron ore fines 64%min. With an annual production capacity of about 1.5 million tonnes, it produced around 220,000t of iron ore fines in Q1 of this year and about 1.1 million tonnes in 2022.
The mainstream prices of iron ore fines 64%min remain at RMB910/dt (USD132/dt) Inc-VAT EXW D/A 180 days in Heyuan at present, unchanged compared with those of last week. Insiders expect Chinese origin iron ore prices to move down in the coming week because of the price decrease of imported iron ore at ports and in international market.
"We would reduce the output of iron ore fines from about 80,000t in March to around 60,000t this month because of the decreased supply of crude iron ore," explained the source. Besides, they have an inventory of about 30,000t in hand for the time being against zero stock last month.
Based on the average grade of crude iron ore 30%min in the mines and the daily processing capacity of ore of around 8,000t in the concentrator, the company produces iron ore fines 64%min. With an annual production capacity of about 1.5 million tonnes, it produced around 220,000t of iron ore fines in Q1 of this year and about 1.1 million tonnes in 2022.
The mainstream prices of iron ore fines 64%min remain at RMB910/dt (USD132/dt) Inc-VAT EXW D/A 180 days in Heyuan at present, unchanged compared with those of last week. Insiders expect Chinese origin iron ore prices to move down in the coming week because of the price decrease of imported iron ore at ports and in international market.
