January 2017 | Steel Raw Materials
Sticky pricing heightens downside risks to the market: Iron Ore Market Analysis
Export supplies of global iron ore are expected to expand by 3–4% to around 65Mt in 2017, at a time when Chinese steel production will be squeezed.
As prices remain elevated and detached somewhat from the fundamentals greater downside market risk is emanating from the revival of high-cost Chinese mines. During the price downturn in early 2016 domestic run of mine output slumped. The countrys high proportion of high-cost miners were simply deemed uneconomical, resulting in a year-on-year production decrease of around 9.7%, according to the Metallurgical Mines Association of China. From the first half to the second half of the year, output levels did pick up by 13.9%...
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