Zanaga upbeat on iron-ore market fundamentals

September 22, 2017

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Although the global iron-ore market continues to demonstrate better-than-expected fundamentals from a demand perspective, particularly in relation to pricing for higher-quality products, Aim-listed Zanaga Iron Ore remains concerned about the continuing build-up in Chinese iron-ore port stocks. In the company’s half-year report for the six months to June 30, published on Friday, chairperson Clifford Elphick said higher Chinese iron-ore port stocks may have a negative effect on iron-ore pricing through the end of the year if Chinese steel mill consumption slows. Further, the company expects substantial production expansions to enter the market in the second half of the year, with only a small number of these being replacement projects for mines entering the final phases of their lives.   

Category: General