The china iron ore price index is expected to increase, according to China’s steel industry in 2018. Part of the analysis of this prediction can be found in this article in light of the events that have taken place in China’s steel industry.
Briefly, we will summarize several of the key issues announced in china monthly steel production for December 2018.
Stimulating the price of iron ore in China
An increase in the price of iron ore is projected to be due to the delayed production and import of iron ore in China relative to steel production in December 2018. China’s iron ore production has dropped by -1.3% over the same period, despite a 6.7% increase in Chinese steel production in the first 11 months of 2018. The amount of iron ore imports to China has also dropped by -3.3%. This is a factor in the rise in the china iron ore price index.
Improve demand and buy construction steel
The improvement in China’s housing sector, which represents a growth of 9.7%, suggests a recovery in China’s steel market. Increasing demand could increase steel prices and, consequently, increase iron ore prices in China.
Another important issue mentioned in China Steel’s Monthly December 2018 is the issue of replacing arc furnaces with long furnaces. Another point to note is the merging of small steel mills. It is also refusing to issue licenses to build new coking units by the Chinese government.
China Steel Monthly December 2018 can be downloaded and read from the link below.
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