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Iron Ore October 30, 2014 06:28:46 AM

Ukraine iron ore production declines

Paul Ploumis
ScrapMonster Author
The Cabinet of Ukraine stated that, the production of iron ore and iron ore concentrates in the country, has declined 1 percent to the total of 61.93 million tonnes, from the period during the month January to the month September, when compared with the production in the previous year.

Ukraine iron ore production declines

KIEV (Scrap Monster): At the same time,  the iron ore production in the country, decreased 6 percent to 16.8 million tonnes, when compared with the year before, and the production of iron ore concentrates was calculated to be about 51.4 million tonnes, with a slight decline when compared to the previous year.

On the other hand, the production of iron ore, which had undergone sintering, reached a limit of 29.5 million tonnes, which also faced a decline of 9 percent, when being compared with the production of last year at the same time.

The main reason behind the decline of the production is assumed to be the decline in iron ore price due to the supply glut brought to the field by the iron ore giants of Australia, BHP Billiton and Rio Tinto. But these giants  have their production cost at check, so they produce large amounts of iron ore at the half price used by the iron ore producers of Ukraine. With increase in the iron ore price in the market, Ukraine has failed to keep up with the cutting down of production cost.

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