Kezhou Congling Industrial suspends iron ore fine production
2024-04-23 08:26:11 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Kezhou Congling Industrial Co. (Kezhou Congling Industrial), a major iron ore fine producer in Xinjiang, stopped the production last week with a daily output decrease of about 1,500t, said a source of the company.
"We suspended the production of iron ore fines last Friday for facility maintenance and would restart the production this weekend," explained the source, adding that they might produce about 33,000t this month, down from around 46,000t in March. In addition, they still have zero stock in hand at present, in line with last month.
Based on the average grade of crude iron ore of 35%min and the daily processing capacity of ore of about 7,000t, the company produces iron ore fines 69.3%min with an annual production capacity of about 1.2 million tonnes. They saw an output of around 350,000t of iron ore fines in 2023 and produced about 131,000t in Q1 of this year.
The mainstream prices of iron ore fines 69.3%min stay at about RMB1,044/dt (USD144/dt) Inc-VAT EXW D/P in Kashi at present, the same as those of last week. Insiders predict that Chinese origin iron ore prices might drop slightly in the coming week because of the price decrease of imported iron ore at ports and in international market.
"We suspended the production of iron ore fines last Friday for facility maintenance and would restart the production this weekend," explained the source, adding that they might produce about 33,000t this month, down from around 46,000t in March. In addition, they still have zero stock in hand at present, in line with last month.
Based on the average grade of crude iron ore of 35%min and the daily processing capacity of ore of about 7,000t, the company produces iron ore fines 69.3%min with an annual production capacity of about 1.2 million tonnes. They saw an output of around 350,000t of iron ore fines in 2023 and produced about 131,000t in Q1 of this year.
The mainstream prices of iron ore fines 69.3%min stay at about RMB1,044/dt (USD144/dt) Inc-VAT EXW D/P in Kashi at present, the same as those of last week. Insiders predict that Chinese origin iron ore prices might drop slightly in the coming week because of the price decrease of imported iron ore at ports and in international market.
