China Steel Association warned that domestic demand for iron ore import port ove
China Steel Industry Association solemnly issued a notice warning of excessive steel prices will not import iron ore, or "could result in major economic loss."
China Steel Association data shows that from January to May this year, China imported iron ore of 192.35 million tons, an increase of 31.45 million tons.
Do the same projections, the annual import volume will reach 462 million tons, 79 million tons more than last year, steel production has far exceeded the annual demand for imported iron ore.
"In particular, imports of iron ore in May reached 38.91 million tons, an increase of 11.31 million tons, up nearly 41%, with domestic iron ore supply and demand are completely contrary, should cause great concern," "If after a few months to excessive imports of iron ore, iron ore ports will further exacerbate the serious backlog of cases and may be brought to the enterprise of great economic loss. " China Steel Association is behind the cautious wording of the high iron ore prices to run.
Iron ore is the main raw material required for steel production in the three major international mining companies under the control of, violent surge in iron ore prices over the past few years. Mine the long-term contracts in China this year but to accept CVRD's 65% price increase request, but negotiations with Australian miners still stalemate. Therefore, there was crazy over the past several months the phenomenon of imported iron ore. Some traders wait for an opportunity expensive shipping, and many ports hoarding piles of iron ore. Data show that the first 4 months of this year, China imported iron ore has resulted in excessive mining port deposit up to 79.22 million tons, setting a record.
In fact, in order to reverse the import of iron ore in the inferior position of Chinese companies are actively seeking overseas exploration. Yesterday, news that China Metallurgical Group in Australia buy 2.6 billion iron ore project approved. The early success of Chalco shares in Rio Tinto, the holdings of the recently expressed views.
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