Tag: iron ore market

China Still Far from Iron Ore Self-Sufficiency, Despite Years of Exploration

June 13, 2022
ChinaChina Business & Economychinese iron oreiron ore importiron ore market
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As the world’s largest consumer of iron ore, China has long relied on imports as the country’s iron ore resources cannot meet its domestic demand. According to public data from the U.S. Geological Survey, as of 2021, China’s uncovered iron ore resources, including raw and iron-bearing ore, are about 26.9 billion tons, accounting for 10…

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China Scrambling to Seize Pricing Power in Global Iron Ore Market

February 21, 2022
AnalysisChinaChina Business & EconomyChinese steel companiesiron ore marketOpinionpricing power
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The China Iron and Steel Industry Association (CISA) revealed its “Cornerstone Plan” on Jan. 10, aimed at mining more iron ore domestically and reducing import dependence, as well as increasing equity mines and exploring scrap steel resources outside China. The plan is seen as part of China’s long-term efforts to control iron ore pricing in…

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Australia’s Trade Surplus for Goods Has Dropped

December 23, 2020
AustraliaAustralian coalBusinessEconomiesiron ore markettrade surplusWorld
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Australia’s trade surplus for goods has dropped to its lowest level in two years after China stopped buying a range of exports. The goods trade surplus for November was $1.9 billion after exports rose just one percent, according to Australian Bureau of Statistics figures published on December 23. The surplus for October was $4.7 billion….

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