Thursday , October 6 2022

There is a Chinese import boom of iron ore minerals after reaching the Economic summit Markets


Chinese big buying machine from iron ore Can I be about to delay it. Imports of the raw material of the world's largest steel industry are at risk of being reduced this year for the first time since 2010 despite official figures suggesting that the plants produce a steel amount without like it.

The estimated reduction is a sign that mills review their production form, which includes ordering a higher grade iron ore ore mix and increasing the use of steel scrap, according to Liberum Capital Cyf. In the first nine months of imports per year decreased by 1.6%, to 803.3 million tonnes. It is expected that data on October years will be released on Thursday.

The world-wide world market is dependent on China, accounting for about 70% of shipping mining companies such as BHP Billiton Ltd., Rio Tinto Group and Vale SA. Since the beginning of the century, raw material trade has exploded, ranging from 70 million tonnes in 2000 to more than 1,000 million tonnes, while steel production has had a rapid increase in Asia's main economy.

There are now signs that the prosperity could have arrived rapidly because economic growth is slowing down and at a time when the fight against corruption leads steel mills to increase towards iron and higher steel scrap.

The use of both materials, as well as an increase in the operations of steel mills before the winter fall in supply, explains the steel production figures recorded by Richard Knights, a Freelance Analyst , in an email. Improving legal capacity for steel production could also be key to harmonizing "huge figures for steel production with flat iron ore imports and the production of pig iron," he said.

The Australian government – who has said he expects China's steel production to reach its peak this year – predicts a decline in annual continental iron ore imports, according to its latest quarterly forecast report.

Upon reaching 1,075 million tonnes in 2017, shipments will fall to 1,059 million this year and to 1,021 million by 2020. The country is the largest exporter of iron ore in the world.

CRU preview
The CRU Group also anticipates that there will be annual imports
declining – about 20 million tonnes, according to
calculations of the company, which suggests that the
production of continental steel.

"China's raw steel production this year has dropped between 1% and 2% year on year in the first eight months," said senior analyst Erik Hedborg. "Official figures, however, suggest that raw steel production has increased by 8% to 9%."

Figures from Australia's most active export port suggested a slowdown in China's appetite last month, although the flows lasted so far this year. Port Hedland shipments for China were 32.8 million tonnes, compared to 35.2 million in the same period last year, according to data released on Tuesday. So far this year they have grown by 1.9%.

The mining companies using the terminal include BHP and Fortescue Metals Group Ltd

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