Imports Of Iron Ore Talks About The Shanghai Game Will Be Long

Imports Of Iron Ore Talks About The Shanghai Game Will Be Long

Available for delivery by domestic Rebar Limited, and external factors such as the incremental impact of capital to actively entered earlier in the week, the Shanghai steel futures rose sharply, from Tuesday, the Shanghai Gang and Fan Shen callback rally blocked. From the long-term analysis, Iron ore Negotiations steel imports will play an important role and impact of the trend.

Oversupply of iron ore The current global iron ore supply and demand

bearish, but the Chinese more than 50% dependent on foreign countries, the United States, Europe, CIS, and India's iron ore supply and demand self-sufficient, the supply side primarily by Rio Tinto, BHP Billiton and Brazil's three major iron ore giant CVRD composition of the three iron ore giants monopolize 70% of the global iron ore trade, its export trade volume of 6 million tons, thus projected as 857 million global trade tons, while demand from major consumer side or China, Japan, Korea and parts of Europe constituted. Last year, 780 million tons of domestic iron ore supply, domestic iron ore is low grade, and after conversion, the actual supply will be small about half of the domestic iron ore supply is only 390 million tons last year, as imports 444 million tons, total production of 834 million tons. Last year China imported 444 million tons of iron ore, the ore from Australia, the two occupy the first extension, up to 40%, from Brazil's Vale, only 20.5%, while the FMG's iron ore is only available now 40 million tons.

China is the world's largest iron ore importer, and the general oversupply of iron ore, which is currently negotiating clout of Steel Association. China Steel Association, according to data from the first 4 months of this year, the global excess capacity up to 200 million tons of iron ore, while the increment of iron ore imports have mainly come from China.

Now about to enter the third quarter, the backlog of domestic iron ore port about the size of about 70 million tons, together with importers, steel, iron ore traders circulation inventories, projections of domestic iron ore stocks size will be far more than 100 million tons, while domestic iron ore imports in the year 440 million tons projected dependence, the iron ore stocks at least the third quarter to meet the domestic demand for iron ore. Therefore, because of supply and demand of iron ore buyer's market and the oversupply present, China for Iron ore talks At least there is still room for 3 months time, China's iron ore imports becoming more and more diversified and now include many overseas FMG mine on, including a long association, which does not rely entirely on the Big Three. The Benxi in Liaoning Province has a large platform Shiqiao ditch proved reserves of more than 3 billion tons found in the huge iron ore, it is possible the ongoing iron ore negotiations will play an important role in the formation of pressure on the three mining enterprises.

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