The report shows that the 2011 global iron ore production reached a record 1.92 billion tons, an increase of 4.7 percent, the highest ever points. Growth in global iron ore exports in 2011, the tenth consecutive year, the international iron ore trade hit a record high of 1.115 billion tons, of which developing countries accounted for 49.5%.
Although the global economic downturn, but still maintained a growth and negative growth in demand for iron ore is still in the growth of international market research department of the Ministry of Commerce deputy director, researcher Pak Ming said. The report predicts increase in iron ore is not high, in line with the trend of the current economic slowdown.
In addition, the report pointed out that the next few years, the global iron ore market will continue popular.
White said that iron ore prices in addition to the 2008 financial crisis, there have been a temporary fall-has continued to rise for about a decade. On the one hand, economic growth had spurred the demand for iron ore, although the slowdown, but with the gradual recovery of the world economy, the demand for iron ore will increase steadily; the other hand, several large iron ore production enterprises monopolized the global 2/3 of the market, dominant market position to manipulate the price of iron ore prices is not entirely a reflection of the relationship between supply and demand.
In recent years, commodity prices generally rose, iron ore is just one, in other commodities not decline, the possibility of iron ore prices to fall is not great, the future is likely to stay in more than $ 100 higher price. "white confessed.
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