High grade iron concentrate Sales growth

In the area of steel production costs, iron ore and coal account for 75% of the costs. Major steel producers, especially China and India, are located in Asia. Because the amount of infrastructure activities in these two countries is high and they need more steel. For more information on high grade iron concentrate sales increase, visit our site.

How much iron concentrate is used per year?

World steel production, which was 1.414 billion tons in 2010, increased by 15% and broke a new record in production. US and European production also grew, while some survived the 2009 recession. The efficiency rate also increased by 1.1% to 73.8%. Steel production in China increased by 9.3%, although its share in world production fell from 46.7% to 44.3%. India is the fifth largest steel producer in the world with a production of 66.8 million tons. In the past, the price of iron ore was determined by negotiations between large mining companies and steel producers, and the price determined in these negotiations was a price index for the entire steel industry.

But now the short-term data pricing system has replaced this annual pricing and the annual contracts of the world’s three largest mining companies are no longer closed. Many Australian and Brazilian mining companies have turned to short-term contracts. In India, prices are higher for cash, and some major suppliers have resorted to using the Metal Bolton or Platts price index. Iron ore prices have been rising since January 2009, and the steel index for pure iron ore has risen from $ 70 to $ 190 per tonne of 62% dry Chinese CFR. One of the influencing factors for the uptrend is the decrease in supply and the increase in demand at the same time.

Since the price of iron ore is shown in US dollars as it is linked to the international rate index, fluctuations in the US dollar price also affect the iron ore price. If the price of the Indian rupee rises against the US dollar, the iron ore to rupee ratio will decrease, and conversely, if the rupee depreciates, the iron ore to rupee ratio will increase.

Regarding the situation of iron ore imports and exports, we find that China has the largest steel producer in the world and 44% of world production, and to meet its iron ore needs, it pursues production and imports at the same time. Chinese iron ore demand has a huge impact on the market for this raw material, and this is due to the fact that China is not only the second largest producer of iron ore in the world, but also the first importer of this important raw material.

China’s import rigs amounted to 619 million tons in 2010, down 1.5 percent from 2009. Of course, it should be noted that in 2009 the amount of iron ore imports increased by 41.5 percent. The world’s largest consumer of iron ore is China, which needs 800 million tons. Australia and Brazil supply large volumes of Chinese demand, and India accounts for only 25 percent of China’s imports.For more information about the iron concentrate price, visit our site.

Sales growth of High grade iron concentrate

Sales growth of High grade iron concentrate is good and it is exported by our collection to other European and Asian countries at a good price. Therefore, you can visit our site for more information about iron concentrate trade.