With the European region experienced a sovereign debt crisis and economic recession, the shrinking steel market, ArcelorMittal and other steel giants have cut production, the European iron ore manufacturers will be more iron ore exports to the world's largest steel producers,in China. Recently, carrying 56,000 tons of iron ore in a Romanian cargo ship docked at the Bohai Sea Caofeidian port, and since then have been entering the country, including Romania, Japan and other 29 countries of iron ore.
The analyst pointed out that whether China can "eat" more and more imported iron ore, depending on the current level of crude steel output.
China Steel Association data show that in late May of this year, 77 large and medium-sized steel enterprises in crude steel output decreased by 3.9%. Among them, the largest yield reduction Xinji Orson and Dongbei Special Steel, respectively 60% and 50%. This is or will be the main reason for steel late strictly control the amount of iron ore purchase price, thus forming one of the upward resistance of domestic iron ore.
Coupled with the global iron ore market is still in excess, the continuing imbalance between supply and demand will probably continue to traction imported iron ore prices to advance to the lower mark.
Future period of time, the global mining industry will face many major obstacles: China slowdown in economic growth, as well as the uncertainty of the U.S. and European economies have a huge impact on the global mining companies.
Many risks of the mining industry are derived from the downstream supply and demand. At present, the construction steel market is still weak, although industrial demand rose slightly, but the excess supply and price volatility risks remain.
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