China iron ore demand to reach 1.13 billion tons by 2015
China Knowledge reports according to China’s new steel industry blueprint for its 12th 5-year Plan estimates it could go as high as 1.13 billion tonnes over the next three years:
Last year, China consumed 920 million metric tons of iron ore. The country imported 618 million metric tons of iron ore from 40 countries last year, which accounted for 67% of the total consumption, up from 35% ten years ago.
In the first ten months, China’s iron ore imports grew 10.9% year on year, and its domestic output of the mineral grew at a fast pace of 26.4%.
During October the price of iron ore fell by $60 from record highs above $180 on fears of slowdown in demand from China, the world second biggest economy and number one steel importer, but has since recovered to trade around the $140/tonne level.
Last year, China consumed 920 million metric tons of iron ore. The country imported 618 million metric tons of iron ore from 40 countries last year, which accounted for 67% of the total consumption, up from 35% ten years ago.
In the first ten months, China’s iron ore imports grew 10.9% year on year, and its domestic output of the mineral grew at a fast pace of 26.4%.
During October the price of iron ore fell by $60 from record highs above $180 on fears of slowdown in demand from China, the world second biggest economy and number one steel importer, but has since recovered to trade around the $140/tonne level.
Comments
Post a Comment