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That should push Chinese steelmakers to use more of the material in coming years, potentially sapping demand for steel ingredient iron ore from the world's biggest metals consumer.
Jul 21, 20150183;32;Rising seaborne iron ore supplies over the next two quarters will probably overwhelm weak demand from mills in China, according to Goldman Sachs Group Inc., which said that a global glut
* China says achieved 85 pct of steel capacity reduction target * Fat margins for Chinese steelmakers on infra spending push * Too many iron ore cargoes in China trader
Is there an iron ore glut as well?. Iron ore imports by China, the worlds largest buyer, have exceeded real demand by 50 million metric tons this year, the countrys steel association said
The worlds second largest iron ore extractor (behind Brazils Vale SA) reported an 11 percent increase in iron ore production, an annual record despite a glut that has driven prices close to
Iron is one of the most abundant elements on earth and is found in rocks and minerals in a variety of forms including magnetite, hematite, geothite, limonite and siderite. It is key in the
Supply will exceed demand for the next three to five years, keeping prices between $50 and $60 a metric ton for ore with 62 percent iron content, according to R. Kishore Kumar, chief executive officer of the companys iron ore division.
Iron ore inventory at Chinas ports increased 81bps w/w (as of 12/25), to 93.1Mmt, the highest in nearly 8 months, while days of inventory for imported iron ore at Chinas steel mills edged up
Feb 29, 20120183;32;Iron ore prices will trend lower this year with slight fluctuations, and the import price may fall below $110 a ton as the domestic market continues to
Feb 15, 20120183;32;Spot iron ore prices fell 19 percent in 2011 as China clamped down on liquidity, denting steel demand for construction, and have have been fairly steady this year around $140 a tonne.
The benchmark system that saw iron ore prices hammered out between the big three minersRio Tinto, BHP Billiton and Valeand Japanese steelmakers broke down as the Chinese demanded a say.
Paradoxically, even as China's iron ore glut hits extreme proportions, China continues to import the commodity with Australian miner Fortescue Metals Group, the world's No. 4 iron ore supplier which ships lower grade material mainly to China, saying its deliveries to
Dec 23, 20170183;32;Big miners struggle to tame China with iron ore glut CNBC. Sep 22, 2014 Plans by the world's top iron ore miners to knock out high cost rivals with a flood of that 85 million tons had already been cut, notably in China, Indonesia, Iran, quot;Many mines aren't closing down because they
Sentiment towards Chinese steel demand has taken a big hit since the start of March, leading to large and steep declines in commodities such as iron ore and coking coal.
The collapse in the price of steel is mainly the result of falling demand and, until recently, rising production in China, says Edwin Basson of the World Steel Association, an industry group.
Cheap Australian iron ore feeding China steel glut 'like a bad virus' Aug 21, 2015 quot;With the massive sales of iron ore to China enabling China to produce a lot more than China actually needs for consumption there's a glut of
Iron ore prices tumbled more than 6 per cent to their lowest level since November, as a glut of supply in China of the key ingredient in steel weighs on the price. The sharp drop on Wednesday is
Dec 08, 20150183;32;However, should the status quo prevail, the global iron ore supply glut is likely to persist, keeping prices subdued. We could be in for an extended period of weakness in iron ore
Since that time, the Big Three plus number four producer Fortescue Metals, who together account for over three quarters of iron ore shipped each year, have invested more than US$ 100 billion to expand production. This, along with slowing demand from China, has led to a supply glut and spot prices significantly lower than the highs seen in 2011.
Jul 17, 20130183;32;SYDNEY, July 17 (Reuters) Record iron ore output from BHP Billiton and other mining giants appears to defy logic, with demand for the steel making raw material cooling in top customer China
The pain for iron ore producers is not expected to let up anytime soon, as numbers out of China indicate that steel demand is dropping.
Mar 16, 20160183;32;China is the largest consumer of seaborne iron ore and accounts for two thirds of seaborne demand. Thus, lower Chinese demand is negative for iron ore prices. Series overview
Big miners keep digging iron ore out of the ground despite the price drop. on Friday that global iron ore supply is growing faster than demand, dropped as much as 2.2 percent to $59.08 in
May 24, 20170183;32;Despite China's credit rating downgrade and metal prices struggling since January, the FT's Alan Livsey argues that it is too soon to say that its iron ore demand will soon collapse.
Dec 19, 20180183;32;quot;We are seeing a pickup in demand for steel products and iron ore in China,quot; says Lourenco Goncalves, chief executive of Cliffs Natural Resources
Chinas producer price inflation cooled for the first time in seven months in March as iron ore and coal prices tumbled, pressured by fears that Chinese steel production is outweighing demand
quot;I don't see a big, big decline in the demand for iron ore going forward, I think there'll be continuing demand not only in China but other parts of the world,quot; said Mobius, who's spent more than
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