The Peruvian iron ore producer, Shougang Hierro Peru, informed the local stocks exchange that the ship loader of its San Nicolas terminal collapsed, halting iron ore shipments.
Shougang informed the local press that repairing the equipment will take four to five months, during which the company will either halt or significantly reduce its sales.
Controlled by Chinese capitals, Shougang has most of its production destined to China.
The accident was quoted by analysts as one of the reasons for the sharp increase of the iron ore price in China, although its production capacity estimated at 2.0 million mt per month, is not relevant when comparing to the main producers of Australia and Brazil.
