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Iron Ore Index Fell 30% and 90% Of Small Private Mining Enterprises in Tangshan Closed

From: Qianzhan Business Information Time: 2014-06-13 11:25:16
Summary: This year, domestic iron ore prices "fell endlessly". Platts 62% iron ore index fell from $ 134.50 / ton of the beginning of the year to $ 93.75 / t, down 30.3% for the whole year

Iron Ore

This year, domestic iron ore prices "fell endlessly". Platts 62% iron ore index fell from $ 134.50 / ton of the beginning of the year to $ 93.75 / t, down 30.3% for the whole year. Insiders point out that, affected by this, profit margins of domestic mining enterprises gradually narrow and some small private mining enterprises have been closed.

Latest data showed that this year, Platts 62% iron ore index was 134.50 U.S. dollars / ton and as of June 9th, the index fell to 93.75 U.S. dollars / ton, down 30.3% for the whole year.

A person from a mining enterprise said that domestic ore was greatly affected by foreign ore. Daily market pricing follows ups and downs of Platts index. As iron ore prices continue to fall, mining companies are gradually shrinking profit margins and some small private mining enterprises have stopped production.

According to "China Iron Ore Industry Report", small private mines surrounding Tangshan currently are cut by nearly 90%. State-owned mines are mainly independent with steel factories as the focus and part of its production can not be easily shut down. In addition, due to lower costs, some domestic large private mines temporarily sustained and the ratio of shutting down is not huge.

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