SMM analysis projects iron ore prices to trend strong in September as steel mills complete maintenance and ramp up hot metal production, lifting ore demand. Rising coke prices are expected to add further cost support. Demand recovery is anticipated with the peak season, though overall upside may be capped by still-weak end-market conditions.
DCE iron ore futures closed higher with spot prices edging up across mainstream grades. Blast furnace operating rates dipped slightly week-on-week and daily hot metal output declined, but bottoming-out signals and improved market expectations lent support. Traders maintained steady shipments while steel mills held back on procurement, leaving spot trading sluggish.
Production of ferrous chloride requires iron (Fe2+) to react with hydrochloric acid for its chlorination. During the first quarter of the year 2024, the ferrous chloride prices have been seeing a slight downslide for the major part. In the Asian markets, the inventories grew with unused and unsold stocks. A considerable decline in international orders primarily pushed the prices down.
The raw material costs were also unable to provide any considerable support. At the same time, degradation in downstream demands from the wastewater treatment and metal industries further exacerbated the pricing situation. The story of the European markets was also not very different.
The market’s major concern was the long-time supply chain hindrance. Since the commencement of the Russian war, the regional supply chains have been immensely disturbed. At the same time, the Middle Eastern conflict has also begun between Israel and Gaza. Amidst all this political chaos, the American markets have also been witnessing some downtime. Overall, a dull price-performance was witnessed.
Analyst Insight
According to Procurement Resource, given the current pricing dynamics, the markets will take time to improve going forward. Delayed correction in prices is expected.
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Ferrous chloride, or iron(II) chloride (FeCl2), is a chemical compound used primarily in water treatment processes as a coagulant to remove impurities. It appears as a greenish-white crystalline solid and is highly soluble in water. Ferrous chloride is also employed in the manufacturing of pigments, in metal surface treatments, and as a catalyst in organic synthesis. It helps control odors in sewage systems and is utilized in some pharmaceutical and agricultural applications, showcasing its versatility across various industries.
FeCl2
Water and Wastewater Treatment, Metal Surface Treatment, Pigment Production, Odor Control, Pharmaceuticals Manufacturing, Catalyst in Organic Synthesis, Agriculture
Iron dichloride
Altivia Specialty Chemicals, Cochin Minerals and Rutile Limited, Huizhou 3R Environmental Chemical, Jiangyin Yujie Environmental Protection Technology, Kemira Oyj, NCP Chlorchem, Pencco, PVS Chemicals
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The synthesis of ferrous chloride is carried out by the chemical reaction of hydrochloric acid with iron metal. It is conducted using a methanol solution of concentrated hydrochloric acid, which is then reacted with iron to give methanol solvate [Fe(MeOH)6]CL2. The intermediate is then heated in a vacuum at around 160 °C, which results in the formation of pure ferrous chloride as the end product.
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