Utilization Rates at Chinese Iron Mines Expected to Drop in June, SMM Predicts

Published: Jun 22, 2016 14:42

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Utilization rates at Chinese iron mines are expected to drop in June, Shanghai Metals Market foresees.

SHANGHAI, Jun. 22 (SMM) – Utilization rates at Chinese iron mines are expected to drop in June, Shanghai Metals Market foresees.

“Supply of domestic ore is still tight because of limited increases in production at domestic iron mines in May, but domestic steel mills show low buying interest in domestic ore after bigger drop of imported ore price,” SMM iron ore analyst points out.

As of late May, average utilization rate at 100 iron mines in China was 50.3 per cent, up 3.5 percentage points month-on-month and up 0.2 percentage point year-on-year, SMM survey shows.

“Utilization rates at domestic iron mines are expected to fall in June,” SMM predicts.

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