BEIJING (Asian Metal) 19 Jan 21 - Shandong Luzhong Mining Co. (Shandong Luzhong Mining), a major producer of iron ore fines in Laiwu, Shandong province, will reduce the production from about 140,000t last month to around 120,000t in January, a source from the company told Asian Metal.

"Because of the decreased supply of crude iron ore, we plan to produce about 120,000t of iron ore fines this month, down by around 20,000t month on month," said the source. According to him, they do not have spot materials in hand at present, unchanged from last month.

With an annual production capacity of around 2.5 million tonnes, Shandong Luzhong Mining produced about 1.75 million tonnes in 2019 and 1.70 million tonnes in 2020.

Mainstream prices of iron ore fines 64%min rose to RMB1,373/dt (USD212/dt) Inc-VAT EXW D/A 180 days in Laiwu, Shandong province on Monday, up by RMB20/dt (USD3/dt) compared with those of last week.