SHANGHAI, Sept. 23 (SMM) – Output of iron ore in China is expected to fall in September due to low utilization rate at Chinese iron mines, Shanghai Metals Market foresees.
“Sluggish price and high inventories reduce domestic mines’ enthusiasm in production, and no large stock-piling expected for winter production also gives little incentive to their production,” SMM iron ore analyst said.
Moreover, domestic mines in the neighboring region of Beijing were required to close down in early October due to Beijing’s parade, and some of them have not resumed production after the parade due to the sluggish market.
In August, China produced 124 million tonnes of iron ore, down 1.88% month-on-month and down 9.86% year-on-year. Total output was 880 million tonnes during the first eight months of 2015, down 9.3% year-on-year.
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