Iron Ore   Sailing, Ports & Shipping  

Malaysia allows Vale to keep iron ore port open

Brazilian iron ore producer Vale will keep open its Teluk Rubiah iron ore blending terminal in Malaysia after discussions with government officials.

Vale was planning to shut down the 30mn t/yr terminal over 21-31 March to comply with a country-wide lockdown aimed at slowing the coronavirus outbreak. Malaysian officials have since said it can remain open.

"Based on the communications from, and our discussions with, the national and local agencies and authorities, Vale considers, from where the situation stands, that it can continue to operate the TRMT [Teluk Rubiah terminal]," it said yesterday.

Vale said it is working on a contingency plan to keep the terminal operating while in communication with the government.

Vale blends most of its 63pc Fe BRBF fines at Chinese ports, minimising the impact of a disruption to supplies, but the Malaysian blend is considered superior to blends made in China.

Premiums for Vale iron ore fines soared on 18 March when the closure was announced. BRBF portside prices rose by 32 yuan wet metric tonne (wmt) to Yn723/wmt, only to fall by Yn32/wmt to Yn691/wmt yesterday. The 65pc index that prices in line with Vale's 65pc Fe IOCJ Carajas fines rose by $1.95/dry metric tonne (dmt) to $107.20/dmt that day.

Vale estimated the disruption will only affect around 800,000t in sales.

Vale ships 65pc Fe iron ore from its northern system and 62pc Fe ore from its southern system to Asia in Valemax vessels that can only be unloaded at deeper ports.

By Chris Newman

News No: 8803
Date: 2020/03/20 - 21:18
News Source: Argus Media

Malaysia  allow  Vale  port  iron ore 


Leave a Comment:


Mongolia resumes China coal exports

Mongolia has gradually resumed coal exports to China through four border points from earlier this week, after two delayed restarts since exports halted in early February.

Australia: FMG Narrows Discount on Low Grade Iron Ore Fines for Mar'20

Fortescue Metals Group - world's 4th largest iron ore producer has decreased discount on low-grade ore for Mar' 20. SteelMint has learned from the market participants that FMG has lowered discount of SSF low-grade fines (Fe 56.7%) from 18% in Feb’20 to 16% for Mar'20 deliveries.

Odisha Auction 2020 : 14 Companies in Race for RP Sao Guali Iron Ore Mines

Odisha govt had invited bids for grant of Guali iron ore mining lease having EC of 5.7 MnT pa. Due date for submission of the technical bid was 20 Feb'20 following which opening of technical bids is scheduled today and conduct of ascending forward electronic auction and submission of Final Price Offer is scheduled on 17-18 Mar'20.

Chinese Mill Concludes 70,000 MT HRC Export Deal to Vietnam

Imported HRC prices to Vietnam fell further towards the weekend in recent deal being concluded from China. Market sources in Vietnam shared that major steelmaker in China named - Baosteel booked another cargo of 70,000 MT HRC (SAE 1006) for exports to Vietnam at USD 470/MT CFR Vietnam for March shipment.

Indonesia’s Bayan halts coal output at subsidiaries

Indonesian coal producer Bayan Resources is to halt production at two of its mining subsidiaries until 30 April as a precautionary measure amid the global coronavirus pandemic.

Easyjet grounds entire fleet

Low-cost airline Easyjet has grounded its entire fleet as of today as a result of government-imposed travel restrictions and national lockdowns across Europe in response to the coronavirus pandemic.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners