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Daily iron ore concentrates output at the 186 Chinese mining companies under Mysteel’s regular survey dip to a new record low since January 2018 when Mysteel commenced the survey, hitting 432,800 tonnes/day over February 7-20, as some large-scale independent miners in North and Northeast China have suspended operations because of Novel Coronavirus Pneumonia (NCP), Mysteel Global learnt.
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As per bulk vessel line up data maintained with SteelMint, South African iron ore export shipments in Jan’20 witnessed 5% up to 6.33 MnT, against 6.04 MnT in Dec’19.
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Iron Ore Stocks at
Major Ports in Australia and Brazil - Satellite Data
(unit: '000
tonnes)
Source: Mysteel & CRESDA
* The data updated on January 24 instead of January 27 was due to the Chinese New Year holiday on January 24-February 2.
* The latest data update has been delayed to February 24 instead of
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Prices ofimported
coal prices strengthened over February 17-21. Purchase inquiries and
transactions were few and far between.
Coking coal imports
Quotations
of imported coking coal to China
PCIcoal imports:
Quotations
of importedPCIcoal to China
Unit: $/tonne, VAT excluded
Thermal
coal imports:
Imported coking coal port stocks on Feb 21
(Unit: in ’000 tonnes)
Note: Jingtang port
stocks have been included in Shougang Group’s inventories since
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Edited by Sean Xie, xiepy@mysteel.com
Disclaimer: The data is provided only for market
reference. Mysteel accepts no responsibilities for consequences caused by usage
of the data.
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Total stocks of iron ore pellet held by the 16 individual pelletizing plants across China surveyed by Mysteel last week were higher than their normal stock levels by an average of 200,000 tonnes, responses to Mysteel’s latest pellet-producer survey published on February 21 showed, an increase which respondents blamed on the severe restrictions placed on truck deliveries at a time when pellet makers were producing relatively normally. Throughout all of last year, the 16 pelletizing plants produced a total of 24.8 million tonnes of pellet, accounting for around 40% China’s pellet output.
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Vale’s cash cost for iron ore fines dipped another $0.8/tonne on quarter over October-December, mainly due to “the lower volumes and prices of third-party purchases and favorable foreign exchange effects”, it explained in its quarterly financial report released on December 20 Brazilian time.
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China’s imported iron ore prices in the port and seaborne markets increased further on February 21, with Mysteel’s PORTDEX 62% Fe Australian iron ore fines climbing Yuan 6/wmt ($0.9/wmt) on day to reach Yuan 679/wmt FOT Qingdao and including the 13% VAT. The same day, the SEADEX 62% Fe Australian iron ore fines index gained $0.85/dmt on day to reach $91.5/dmt CFR Qingdao.
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At present, less than 40% of Chinese graphite electrode manufacturers have resumed operations, with the majority of firms continuing to postpone reopening, citing weak demand and transportation disruptions resulting from government efforts to control the Novel Coronavirus Pneumonia (NCP) outbreak, market sources shared on February 20.
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As China’s fight against Novel Coronavirus Pneumonia (NCP) continues to show encouraging signs of progress of late, more Chinese enterprises have been resuming operations after this year’s extended Chinese New Year holiday break. Several provinces have reported that over 70% of the industrial enterprises they host have restarted work, Mysteel learnt from announcements of local authorities on February 19.
