demand, China is also a substantial global commodity producer, with significant domestic reserves of many commodities such as coal and iron ore, and the world's largest producer of wheat and rice. Nonetheless, production has not kept pace with the surge in demand, leading China to source an increasing share of its commodity needs
· China's iron ore production is forecast by 3% to Mt in 2020 which to grow at a compound annual growth rate (CAGR) of % between 2020 and 2024 to reach Mt., according to data and analytics. At present, due to the impact of Covid19, China's iron ore production declined by % yearonyear, there are several mine plants ...
· China's push to diversify its iron ore supplies away from Australian miners is a case of "not if, but when", an expert warns, and one impact would be a hit to property prices here.
Meanwhile, demand for iron ore has been strong in recent months as Chinese steel production has been increasing, supported by policy measures targeted at steelintensive infrastructure projects. Although trade tensions are creating significant uncertainty for the global economic outlook, Chinese policy measures are expected to continue to support demand for steel in the near term.
"China's iron ore imports have stagnated, China's coal imports have come down massively and India's coal import growth has also slowed down."Drewry forecasts demand for iron ore growing at 3%4% over the next few years, but says demand for coal, especially in China, will not rebound any time soon.
· He said the high iron ore prices are being driven by strong Chinese production and demand for steel as well as ongoing supply shortfalls from world's second largest exporter Brazil. Steel production in China hit a near record 94 million tonnes in March, up per cent on the past year.
Figure : Iron ore price by grade and China steel price index Notes: The OCE forecasts the FOB (free on board) Australia iron ore price, not the benchmark CFR (cost and freight) North China iron ore price. Source: Bloomberg (2019) Metal Bulletin; Department of Industry, Science, Energy and Resources (2020)
May 11, 2021 · The ANZ report made another point: iron ore demand outside of China is also picking up, which will be a factor pushing up the price. Brazil is the second largest supplier to China (about 17% of its iron ore consumption) but the industry there has struggled to return to its peak since Vale's astrophic dam collapse in 2019 led to mine closures.
China iron ore slumps on winter steel demand outlook. 09/11/2019 Rising iron ore inventory at China's ports, hovering around a sixmonth high, is also weighing on both futures and spot prices, while a downbeat outlook for global steel demand
· "Weaker Chinese steel rebar prices should have more of an impact just as iron ore supply starts to improve," he said in a monthly market outlook. FUNDAMENTALS Benchmark spot 62 per cent iron ore for delivery to China plummeted per cent to 105 a tonne on Monday, when iron ore futures in both Dalian and Singapore markets crumbled.
Chinese steel demand output forecast lower in 2020 12 Dec 2019 Chinese steel demand output forecast lower in 2020 to 981mn t in 2020 while production is forecast to grow by to 988mn t this year. China's iron ore requirements will be around t on a 62pc basis in 2020. China Imports of Iron Ores and Concentrate Forecast
· Strong iron ore prices have shown great resilience, with the sustainability of their rally attracting market attention. The SP Global Platts 62% Fe index, IODEX, reached a record /dmt on May 12 driven by a
· Fortescue shares surged more than 13 per cent to an alltime high of on Thursday after news Brazilian iron ore giant Vale slashed its output forecasts at a time of strong demand in China ...
Jan 11, 2021 · China's stimulusdriven economic recovery proved to be a boon for iron ore prices last year, but demand will likely soften once those measures wind down.
· Iron ore price continue to surge. Uncertainty over the outlook for Brazilian supply is driving the price. Signs that Chinese steel demand is improving may have also boosted sentiment.
· Skyhigh iron ore prices on one side, steel production in many countries down markedly — and it is China's demand that is the lone factor keeping iron ore consumption going. For the month of June, global steel production yearonyear was tanking: India down % on the same month in 2019, Brazil and Germany declining 18%, Japan dropping %, and Taiwan falling 13%.
Jul 24, 2019 · SPMI also raised its 2019 benchmark iron ore price forecast to 90/dmt CFR China from 87/dmt, after a yeartodate high exceeding 126/dmt wasreached this month on demand for volumes to meet steel operating rates in China and rebuild inventory.
Jun 28, 2020 · Top iron ore shipper Australia predicts elevated prices will stay for the rest of 2020 as Chinese demand strengthens and supply is slow to increase. Iron ore .