Average Capacity Utilisation Rate of Domestic Mines Adds 4% MoM in Feb

SHANGHAI, Mar 8 (SMM) - The average capacity utilisation rate of domestic mines stood at 52% in February, up 4% from January. Iron ore concentrate output reached 18.03 million mt, down 420,000 mt MoM, due to the fewer working days in February. The reasons for the slight increase in capacity utilisation rates in February are as follows. 1. In January, mines whose production was affected by the Chinese New Year holiday, cold weather and maintenance gradually resumed normal production in February. 2. The output of mines that had been affected by policy control in January increased in February. For example, some state-owned mines in Tangshan city passed the safety inspection in early February, with explosive supply and production resumed. 3. Mines gained considerable profits amid the high iron ore prices in February. The market trading was favourable. Mines were active in production, pushing up the capacity utilisation rates.