Look at China's iron ore demand and Rio Tinto's re

2022-06-09
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Rio Tinto is expected to expand its iron ore production in China in the short term to meet the high demand of China's iron ore industry. The Department said that although the demand in Europe may still be lower than the normal level for some time, it is expected that in the short term

on November 29, the Australian Treasury Department pointed out in a budget evaluation report that China's iron ore demand is expected to expand in the short term and the medium - and long-term prospects are good. The Department said that although the demand in Europe may still be lower than the normal level for some time, it is expected that China's demand will expand in the short term due to steel mills replenishing inventory in the winter

at the same time, Rio Tinto also warned that with the intensification of the European debt crisis and the weakness of the US economy, the global commodity market will be further volatile in the future, and consumers will be more cautious about the prospect of the future market

however, while warning the global market, Rio Tinto is optimistic about "Chinese demand" - "the demand of China, the world's largest iron ore importer, will double that of 2008 by 2020 (China imported 440 million tons of iron ore in 2008)"

sad: worry about the crisis in Europe and the United States

at the investor seminar held recently, Rio Tinto also said that the European debt crisis and the US debt crisis have caused market sentiment. The stabilizer bar fatigue tester is mainly used to test the fatigue mechanics and performance of various auto parts and damping pieces such as various shock absorbers, stabilizer bars, axles and supports. In Rio Tinto's view, in particular, the direct impact of the debt crisis is the decline in iron ore prices in recent months. Taking the Chinese market as an example, according to the statistics of Xiben Shinkansen, the grade is 63.5%, and the external quotation of Indian fine ore is 147 US dollars/ton, down 5 US dollars/ton on a weekly basis. This allows the ore price that has just warmed up to enter the downward channel again

BHP Billiton also said on November 17, "the intensification of market volatility and the uncertainty of economic outlook will depress the popularity of commodity market, and customers have become cautious in managing inventory."

according to he Rongliang, an analyst at the China business circulation Productivity Promotion Center, the concern of "two expansion" is reasonable, because "the overall economy of the two major consumer areas around the world is not good and is in the adjustment stage, which reduces the demand for large raw materials such as iron ore and eventually leads to the decline of ore prices"

however, he Rongliang does not agree that the main reason for the decline in ore prices is the debt crisis. He said, "the decline of China's crude steel production has greater lethality to the ore price. Electroplating pink ball bottles became an upsurge at 1:00." the data showed that China's crude steel production was 54.67 million tons in October. Although it increased year-on-year, it decreased by 3.6% month on month compared with September. In the past few months, China's crude steel production has repeatedly reached new highs, and the ore price at that time also remained at a very high price

hi: look at high Chinese demand

for the Chinese market, Rio Tinto said in a public statement that it is expected that China's steel consumption will continue to grow year by year. "Despite some decline in steel production last month and many global problems, China's demographic trend and urbanization process will remain unchanged until 2015"

based on this, Rio Tinto predicts that by the first half of 2015, the annual output of iron ore will reach 353 million tons, more than 20 million tons compared with the previous expectation. Rio Tinto also said that in the next eight years, the annual supply of iron ore will increase by 100 million tons, "China's iron ore demand will peak in 2030, and there will be a long-term demand gap in countries such as India"

in the view of market participants, it is expected to emphasize China's demand. Data show that in October, the crude steel output of 64 major steel producing countries and regions in the world was 124 million tons, with a year-on-year increase of 6.2% and a month on month increase of 0.9%. However, if China's output is deducted, the global crude steel output in October was 69.31 million tons, an increase of 3.7% year-on-year and 4.7% month on month

vale, one of the three major iron ore suppliers, also "covets" China. In order to counter the advantages of "two extensions" in sea freight, Vale's plan to build a distribution center in Dongjiadu, Shanghai is reviving the dawn of Huaibei City's multi-channel promotion of demonstration and utilization

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