Iron Ore Concentrate Inventories At Domestic Mines Continued To Decline In September

SHANGHAI, Oct 12(SMM) – According to an SMM survey, the inventories of iron ore concentrates held by domestic mines decreased from 1.22 million mt or 4.9 days in August to 1.1 million mt or 4.4 days in September. Demand from steel mills remained high in September. Coupled with the pre-holiday replenishments, mine shipments were active, and concentrate inventories dipped MoM. In terms of supply, some mines in Liaoning, Inner Mongolia, Sichuan, and other areas experienced a decline in output. Mine supply was tight, and inventories dropped accordingly. A private mine in Inner Mongolia suspended production in September for rectification due to non-compliance with environmental standards. There were also private mines whose concentrate output was declining month by month due to the depletion of resources , such as those in Liaoning,. And some mines in other regions cut production for technical improvements, equipment maintenance, or other reasons. In the face of optimistic sales, concentrate stocks further declined.