Some mines in east China are expected to cut output due to raw material shortages.

Last week, iron ore prices in Tangshan, Qian'an, Qianxi and Chengde in Hebei province were raised by 10-15 yuan/mt. Prices in western Liaoxi, including Chaoyang, Beipiao, and Jianping were largely unchanged. The prices in east China were lowered by 40-50 yuan/mt.

HBIS Resources expects that the South African subsidiary's annual sales of magnetite will exceed 10 million mt, an increase of 31% from the 7.625 million mt in 2022; the expected sales of vermiculite in 2023 are 170,000 mt, an increase of 11% from the 152,500 mt in 2022. Sales of copper products in 2023 will be no less than 30,000 mt, an increase of 25% from the 22,400 mt in 2022.

In order to reduce production costs, Dongshao Plant of Ansteel Mining reduced the demand for high-cost iron ore concentrates by recycling scrap materials from stockyards.

Recently, China Railway No.10 Engineering Group Africa Company and Leone Rock Metals Group signed the EPC general contract for the construction of the second phase of the 12 million mt/year beneficiation plant of the Tonkolili iron ore mine in the Republic of Sierra Leone and the second phase of the iron ore mining project contract, with a total contract value of $520 million. The Tonkolili iron ore mine is located in the Tonkolili mining area in the Northern Province of the Republic of Sierra Leone.

SHANGHAI, Jun 5 (SMM) – Although many places were affected by high temperature or rain last week, the apparent demand for building materials increased significantly.

SHANGHAI, Jun 5 (SMM) –Data released by the National Bureau of Statistics showed China’s manufacturing PMI was 48.8% in May, which was in the contraction territory for three consecutive months, denting market confidence.

SHANGHAI, Jun 5 (SMM) – Some coking plants raised production after their inventories declined, driving up the average capacity utilisation rate up from 77% to 77.5% last week.