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Brazil is optimistic about China iron ore consumer market by lee ryan
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Brazil is optimistic about China iron ore consumer market by LEE RYAN
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| Article Posted: 10/27/2013 |
| Article Views: 767 |
| Articles Written: 234 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 497 |
| Article Votes: 0 |
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Brazil is optimistic about China iron ore consumer market |
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Business News,New to the Internet,Press Release
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Carajas project annual output of 109 million tons at present, it is the world's largest iron ore project, which is expected to reach full capacity of production in 2018 and reach 230 million tons. Exploitation of their planning period is 40 years, extraction volume is expected to reach 4 billion tons, the future will continue to expand the scale according to demand. Vale last year increased its investment in high-quality ore. July 2012, Carajas mine of development company Vale announced again, invested $ 19.5 billion to develop the Southern District S11D mine, this is the highest investment of iron ore project in the world so far. International market for such high-quality ore demand remains strong, therefore, its market price is relatively stable, This mine will be the future Vale continues to lead the world iron ore industry of protection. When reporters interview in Carajas, there are two China-related new attracts the attention of the global steel industry. First, as China's economic recovery, the Brazilian iron ore exports to China increased rapidly. According to Brazil, Folha de Sao Paulo newspaper reported that the Brazilian iron ore exports to China in September reached 74.6 million tons, MoM growth of 8%, year on year growth of 15%, which create a history record. Second, on October 18, "Chinese version of" iron ore futures was listed in Dalian Futures Exchange, China enhanced pricing. Although people talk about the iron ore price rises, repeatedly stressed that stable development of China's economy, U.S. and European economic recovery are the two main factors, but they predict the future is not very optimistic. Vale executive director Mading Si think 2015 iron ore market will basically reached saturation. By 2018, when the excess capacity could reach 5-6 percent, by then the price will remain at $ 100 or more, but is unlikely to reach current peak, the main reason is the major iron ore producers are expanding production capacity. China needs to import more than 60 percent of iron ore very year. The expansion of China's urbanization and Chinese exports of finished steel products increased, making China become chasing object in the market by the world's major iron ore suppliers. Over the years, China in the international iron ore market lack of pricing power, Long-term restricted to Vale, Rio Tinto, BHP Billiton etc. companies. Global iron ore production capacity to enhance and the importance of the Chinese market, for China increased pricing to provide the conditions. Iron ore futures launch will help to gradually change this passive situation which is China made a bold attempt for greater pricing power of iron ore. First use of RMB for iron ore futures Indicates a new era for globally. Mading Si recently in an interview also said that iron ore pricing is increasingly dependent on the Chinese market. Ontrend Industrial Limited is high quality Carbon Steel Pipe, Tinplate and Steel Wire supplier in China, if you have any need, please feel free to visit our website.
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