March to see China’s iron ore fundamentals improve
The fundamentals of China’s iron ore market are likely to improve this month, leading to a further decline in portside iron ore stocks, according to Mysteel’s monthly report.
China’s BF capacity use up for 9th week to 88.03%
The blast furnace (BF) capacity utilization rate among 247 Chinese steel mills under Mysteel’s survey edged up for the ninth straight week by another 0.89 percentage point on week to 88.03% over March 3-9, as some steelmakers resumed their operations after regular maintenance works or ramped up production amid their improved steel margins.
Aust., Brazilian iron ore shipments dip 1% WoW
The total volume of iron ore dispatched to global destinations from the 19 ports and 16 mining companies in Australia and Brazil dipped 325,000 tonnes or 1.3% on week to 24.3 million tonnes over March 6-12, mainly due to the lower shipping volume from Australia, Mysteel’s latest survey showed.
China’s aluminum sector sees rising margins in Feb
According to Mysteel Aluminum Cost Model, the weighted average cost of primary aluminum in China was Yuan 16983/t in February, down Yuan 286/t from a month ago. The whole sector faced an average profit of Yuan 1670/t, up from Jan’s Yuan 1063/t. The decrease in anode cost dragged down aluminum production cost in February.
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