Iron ore futures slipped on Friday, as rising portside inventory of the steelmaking ingredient in top steel producer China, along with weak demand, signalled prices could further weaken in 2022. Iron ore for May delivery on China39;s Dalian Commodity Exchange ended daytime trade 0.7 per cent lower at 639.50 yuan a tonne.
Recovery of domestic zinc ore output was slow due to COVID and dropped grade . According to SMM statistics, the output of domestic mines in 2020 increase slightly by 24,000 mt from 2019. The recovery of domestic zinc ore output was slow in 2020 mainly due to problems such as the repeating COVID and the decline in zinc ore grade.
Iron ore outlook bullish after Tangshan upgrades emissions control ratings for 13 steel mills The emissions ratings of 13 Chinese steelmakers will be upgraded to level C in steel production hub Tangshan, which will encourage a bullish outlook for iron ore demand after the 2022 Winter Olympics, sources told Fastmarkets.