The iron ore price increase next year is basically confirmed by the analysis
Recently, the iron ore negotiations in 2011 started, and the trend of mineral prices has once again caused concern and speculation. On the one hand, the China Iron and Steel Association firmly stated that the high price of iron ore could not continue. On the other hand, the news that the three major mines began to reluctantly sell the insured price frequently appeared. In the game between the two sides, the industry’s upward trend in the next year’s mining price has been basically confirmed, but there is disagreement on the increase.
Sun Ming, an analyst at Lange Steel Information Research Center, believes that iron ore prices have remained high and there is not much room for growth in the later period. “The acceptance of high-priced imported ore by steel mills is limited. After that, iron ore imports fell by 19% in October, mainly due to the high iron ore prices and the pressure on steel companies to operate. Together with the Chinese steel industry. The impact of power cuts has exceeded market expectations, thus limiting the upside of iron ore." Sun Ming said.
However, analysts who believe that iron ore will continue to go crazy believe that although the number of imported iron ore in China has decreased, it only shows that the ore flow has changed. Data show that shipments from Australia's three major iron ore producers to China fell sharply by 40% year-on-year to 6.474 million tons in September-October, while shipments to Japan surged to 7.112 million tons in the same period, a sharp increase of nearly 3 years. Times. Therefore, the price of minerals will not stop climbing because of the decline in Chinese demand. Coupled with the depreciation of the US dollar, it is inevitable that the price of minerals will continue to rise next year.
“The Chinese steel industry cannot be too optimistic about the influence of Chinese demand on the price of minerals, but should more realistically find ways to solve the problem of excessive dependence on imported iron ore,†said one analyst.
Sun Ming, an analyst at Lange Steel Information Research Center, believes that iron ore prices have remained high and there is not much room for growth in the later period. “The acceptance of high-priced imported ore by steel mills is limited. After that, iron ore imports fell by 19% in October, mainly due to the high iron ore prices and the pressure on steel companies to operate. Together with the Chinese steel industry. The impact of power cuts has exceeded market expectations, thus limiting the upside of iron ore." Sun Ming said.
However, analysts who believe that iron ore will continue to go crazy believe that although the number of imported iron ore in China has decreased, it only shows that the ore flow has changed. Data show that shipments from Australia's three major iron ore producers to China fell sharply by 40% year-on-year to 6.474 million tons in September-October, while shipments to Japan surged to 7.112 million tons in the same period, a sharp increase of nearly 3 years. Times. Therefore, the price of minerals will not stop climbing because of the decline in Chinese demand. Coupled with the depreciation of the US dollar, it is inevitable that the price of minerals will continue to rise next year.
“The Chinese steel industry cannot be too optimistic about the influence of Chinese demand on the price of minerals, but should more realistically find ways to solve the problem of excessive dependence on imported iron ore,†said one analyst.
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