Iron Ore Import Is Expected To Record High In March
From 1 April the traditional annual contract expiration date draws near, more intense in the iron ore price negotiations, the international iron ore prices and sea freight is expected to become stable background, industry analysts predicted in March of iron spot ore imports will reach 60 million tons, a record high.
March imports will exceed 60 million tons
Data show that in January China imported 46.62 million tons of iron ore, an increase of 13.97 million tons, up 59%; chain reduced 15.54 million tons, down 25% compared with average daily ring.
Industry insiders estimate that iron ore imports in February will continue to decrease, but after entering in March, imports will be gradually restored.
"We expect the March iron ore imports will reach 60 million tons, expected to total annual iron ore imports will continue to new highs," co-senior iron ore, metal mesh analyst Hu Kai, a bold forecast for steel in volume of small forward, while three major iron ore suppliers has reduced the long association mining supply resources, in addition to iron and steel enterprises in China continue to grow production this year.
Advice my steel mesh and the West of the Shinkansen analysts told China Securities Journal reporters also recognized high iron ore imports in March the judge. As of last weekend, despite the domestic iron ore inventories in 19 major ports remained at 68 million tons, still in high stability.
Price will be the key factor in iron ore imports. According to Hu Kai said on March 2, India fine ore (63.5% grade) CIF has risen to 140-145 U.S. dollars / ton of iron ore prices rose in September 2008 the highest point since 20 months, 1 month, up 15 dollars.
West believes that this new route in 2010, international iron ore price agreement will become a reality, and their exports of iron ore products in India after the tax increase, must restrain its exports, which will result in the international iron ore spot market prices.
The limited domestic new
My steel mesh, a senior analyst, said a breakthrough in the international iron ore price of 100 U.S. dollars / ton, the domestic ore production efficiency has already highlighted the complex is expected to supply 50 million tons could be added around.
West of this new route monitoring data show that in December last year, domestic iron ore output of local mines rose 40.2% to 88,248,200 tons, reducing 46,000 tons of chain 1-February, local small and medium mining basic shutdown, the market for resource significantly reduced. Into March, with the weather turn for the better, mine production will be gradually restored after the Spring Festival in the past suffered from domestic iron ore supply increased month by month, so there will be a significant increase in resource supply.
However, the data point of view, the domestic iron ore self-produced 808.05 million tons from 2008 to 2009 increase of 880.17 million tons, an increase of 8.9%. Domestic mines will decline in new supply over the previous year. Indeed, with domestic iron mines, mining costs increasing, while domestic users abandon the domestic mining ore imports election. Domestic iron ore self-sufficiency rate of 50% by the year 2008 fell to 30% last year.
Sea freight stabilizing
2008 Brazil to China, sea freight routes up to 100 U.S. dollars / ton, the highest in the history of the high price, sea freight prices to catch up with the iron ore price. With the recovery in global commodity markets, especially Europe and the United States market has bottomed out last year, the sea freight industry for the price of slightly worried.
In February to the international iron ore sea freight overall trend shocks run, first weekend, Brazil to China route freight 25.909 U.S. dollars / ton, up 0.234 U.S. dollars in early / ton; Australia to China, sea freight 9.186 U.S. dollars / ton, down 0.556 in early U.S. dollars / ton.
Joint metal mesh forecast that, in March of international sea freight prices should still be small at this price shock, the trend of the year 2010 there will be no boom market.
Hu Kai said that in 2009 there are 128 Capesize dry bulk vessels into the water, is expected to have 150 by 2010, the market sufficient shipping capacity, and in 2008, record high price of international sea freight, only 55 into the water.
However, the industry is also worried, in the stronger dollar, rising international oil prices and signs of recovery in imports in March of domestic circumstances, sea freight may be disruptions in the market higher.
With the recovery of the international economic situation, the international shipping market will gradually prosperous, sea freight will be higher than the average level in 2009.
I am an expert from China Products, usually analyzes all kind of industries situation, such as mini chopper trike , dry sump lubrication.
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