Iron Ore Imports May Total 650M Tons In 2010

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

2 Sep 2010

China’s imports of iron ore in 2010 are estimated to total 650 million tons, reports China Securities Journal, citing Wu Wenzhang, an analyst from steelhome.cn. Wu estimates that crude steel production and apparent consumption in 2010 will increase 10.9 percent year-on-year and 7.8 percent year-on-year to 630 million tons and 610 million tons, respectively.
According to Wu, although the three big miners said that the prices of their iron ore exports in the fourth quarter will be 10-15 percent lower, China’s steelmakers may still suffer losses.
Shares of Shanxi Taigang Stainless Steel (000825) rose 0.88 percent to close at 5.72 yuan today.

Source: CapitalVue