Guangdong Dading Mining stops iron ore fine production
2024-04-02 08:22:38 [Print]
BEIJING (Asian Metal) 2 Apr 24 - Guangdong Dading Mining Co. (Guangdong Dading Mining), a major iron ore fine producer in Guangdong, stopped the production in the middle of last month with a daily output decrease of about 2,000t, disclosed a source of the company.
"We suspended the production in the middle of March because of the facility maintenance and might restart the production this week," said the source, adding that they produced about 30,000t of iron ore fines in March. According to him, they have no spot materials in hand now, in line with last month.
Based on the average grade of crude iron ore 30%min and the processing capacity of ore of about 8,000tpd, the company produces iron ore fines 64%min. With an annual production capacity of about 1.5 million tonnes, they produced around 880,000t of iron ore fines last year and approximately 120,000t in Q1 of 2024.
The present mainstream prices of iron ore fines 64%min stand at RMB742/dt (USD103/dt) Inc-VAT EXW D/A 180 days in Heyuan, down by RMB115/dt (USD16/dt) from last week. Insiders predict that Chinese origin iron ore prices would move down further in the coming week dragged by the price decrease of imported iron ore at ports and in international market.
"We suspended the production in the middle of March because of the facility maintenance and might restart the production this week," said the source, adding that they produced about 30,000t of iron ore fines in March. According to him, they have no spot materials in hand now, in line with last month.
Based on the average grade of crude iron ore 30%min and the processing capacity of ore of about 8,000tpd, the company produces iron ore fines 64%min. With an annual production capacity of about 1.5 million tonnes, they produced around 880,000t of iron ore fines last year and approximately 120,000t in Q1 of 2024.
The present mainstream prices of iron ore fines 64%min stand at RMB742/dt (USD103/dt) Inc-VAT EXW D/A 180 days in Heyuan, down by RMB115/dt (USD16/dt) from last week. Insiders predict that Chinese origin iron ore prices would move down further in the coming week dragged by the price decrease of imported iron ore at ports and in international market.
