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China's iron ore concentrates price eases $0.70/dmt, fundamentals supportive
publisherella
time2017/03/20
- Applications of sodium hydrosulphide：
Thousands of tons of NaHS are produced annually. Its main uses are in cloth and paper manufacture as a makeup chemical for sulfur used in the Kraft process, as a flotation agent in copper mining where it is used to activate oxide mineral species, and in the leather industry for the removal of hair from hides.
The Chinese domestic price of iron ore concentrates eased slightly by Yuan 5/dry mt ($0.70/dmt) from last week, tracking iron ore and domestic steel, but steel market fundamentals are supportive in the near term, market sources said Friday.
Domestic 66%-Fe ore concentrate delivered to steel mills in Tangshan city in the northern Hebei province slipped to Yuan 815-825/dmt, including value-added tax, Friday from Yuan 820-830/dmt a week earlier.
Chinese market sources were at ease at the moderate downward correction after the price hit a 30-month high on February 24 because the "Tangshan billet price has dropped by around Yuan 200/mt from its recent high, and the imported iron ore price fell by around $7-$8/dmt CFR North China for 62% grade fines over the period too," a sales official from an iron ore mine in Hebei province said.
They were also not concerned about steep and continuous declines in the near term in either steel or iron ore prices because steel consumption in China is usually robust in March and April, and the market sentiment has remained bullish on the Chinese economy and steel prices in general for 2017.
"China's confirmation that it will eliminate another 50 million mt/year of crude steel capacity and shut down all induction furnace capacity by the end of June will strongly support Chinese domestic steel prices, and this will definitely benefit iron ore in general, the core steel-making raw material," a sales official from a steel mill in Hebei said.
In addition, China's domestic iron ore supplies have remained constrained despite higher prices than last year because many idled mines, being underground instead of open-cast, will take at least two-three months to resume both mining and concentrating operations, according to officials from domestic iron ore mines.
Domestic 66%-Fe ore concentrate delivered to steel mills in Tangshan city in the northern Hebei province slipped to Yuan 815-825/dmt, including value-added tax, Friday from Yuan 820-830/dmt a week earlier.
Chinese market sources were at ease at the moderate downward correction after the price hit a 30-month high on February 24 because the "Tangshan billet price has dropped by around Yuan 200/mt from its recent high, and the imported iron ore price fell by around $7-$8/dmt CFR North China for 62% grade fines over the period too," a sales official from an iron ore mine in Hebei province said.
They were also not concerned about steep and continuous declines in the near term in either steel or iron ore prices because steel consumption in China is usually robust in March and April, and the market sentiment has remained bullish on the Chinese economy and steel prices in general for 2017.
"China's confirmation that it will eliminate another 50 million mt/year of crude steel capacity and shut down all induction furnace capacity by the end of June will strongly support Chinese domestic steel prices, and this will definitely benefit iron ore in general, the core steel-making raw material," a sales official from a steel mill in Hebei said.
In addition, China's domestic iron ore supplies have remained constrained despite higher prices than last year because many idled mines, being underground instead of open-cast, will take at least two-three months to resume both mining and concentrating operations, according to officials from domestic iron ore mines.
Sintering and coking operations at steel mills in Hebei have been reduced by 50-70% due to two ongoing top political meetings in Beijing, and market sources were unclear whether the curbs would be lifted after March 15 when these meetings are over.
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