IRON ORE DAILY: Prices dip amid strong supervision on Tangshan emissions restrictions
Iron ore prices went down on Friday March 12 due to the weak demand amid strong supervision on steel production operations in Tangshan, sources told Fastmarkets.
Fastmarkets iron ore indices.....................................................
62% Fe fines, cfr Qingdao: $165.44 per tonne, down $5.26 per tonne
62% Fe low-alumina fines, cfr Qingdao: $165.53 per tonne, down $5.26 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $152.27 per tonne, down $3.78 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $190.60 per tonne, down $5 per tonne
62% Fe fines, fot Qingdao: 1,145 yuan per wet metric tonne (implied 62% Fe China Port Price: $164.32 per dry tonne), down by 5 yuan per wmt
The Iron Ore price is bouncing around a bit in recent days.
Meanwhile Vale are doing their best to lift their output..............................................................................................................
Vale to resume output at Timbopeba site, boost mine’s iron ore capacity by 7mln tpyVale has started commissioning wet processing operations at its Timbopeba site, which is part of its Mariana iron ore complex in Brazil’s southeastern Minas Gerais state, which will increase the mine's iron ore production capacity by 7 million tonnes per year.
The commissioning process is expected to last for two months, and will increase production capacity to 12 million tpy, the company said on Friday March 12.
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