The China Iron and Steel Association said on the 29th that Chinese iron and steel enterprises and the three major international mining giants have started negotiations on iron ore prices in the new year. The supply and demand sides have already contacted and exchanged views on the market.
Luo Bingsheng, executive vice president of the China Iron and Steel Association, said on the 29th that China imported 457.6 million tons of iron ore from January to September this year, a decrease of 11.53 million tons from the same period of last year and a decrease of 2.51% year-on-year. Since the beginning of this year, China’s imports of iron ore have been declining. In the first quarter of this year, China’s imports of iron ore increased by 18.4% year-on-year, decreased by 6.87% year-on-year in the second quarter and decreased by 14.33% year-on-year in the third quarter. In 2009, China imported 638 million tons of iron ore. It is predicted that the total amount of imported iron ore in China will decrease this year compared to last year.
Analyze the reasons, Luo Bingsheng said, on the one hand, from January to September this year, China's pig iron production increased by 10% year-on-year, and the growth rate dropped significantly; on the other hand, from January to September this year, domestic iron ore output was 780 million tons, an increase of 25.89% year-on-year. . Luo Bingsheng said that the substantial growth of domestic iron ore has replaced imported iron ore and met the domestic iron ore demand for blast furnaces from January to September.
Luo Bingsheng stated that it is expected that the demand for iron ore in China will increase in the fourth quarter of this year. First, in order to meet the production needs of this winter and next spring, some steel companies need to increase their inventory, and the demand for iron ore will increase. The demand for ore will also increase accordingly. Secondly, the three major international mining companies have reduced iron ore quotation in the fourth quarter of this year, which is a favorable factor for corporate procurement. Domestic steel companies will supplement some of the imported iron ore.
Luo Bingsheng said that in the fourth quarter of this year, the total amount of iron ore imported by China will increase appropriately, but it is expected that the total amount of imported iron ore in China this year will not be higher than last year.
China Iron and Steel Association statistics show that from January to September this year, China's imports of iron ore averaged US$121.7 per ton, which was an increase of US$43.84 per ton, or 56.31%, from the same period last year. From January to September this year, China imported 457.6 million tons of iron ore, a decrease of 11.53 million tons from the same period of last year, but the total import amount was USD 55.689 billion, an increase of USD 19.162 billion over the same period of the previous year, equivalent to about RMB 130.3 million* **.