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China Dependence Degree on Imported Iron Ore Rose to 78.5%

  1. pikapika

    1,624 Posts.

    China Dependence Degree on Imported Iron Ore Rose to 78.5%

    Sinocast Metals, Mining & Chemicals Beat (China)
    Friday January 30, 2015 12:39 AM

    BEIJING , January 30 , SinoCast -- China Iron and Steel Association Vice Chairman Zhu Jimin said in Beijing on January 29 that China's degree of dependence on imported iron ore hit 78.5% in 2014, up 9.7 percentage points.
    China imported 933 million tons of iron ore in 2014, up 13.8% year on year. That for December increased 28.9%, or 19.45 million, month on month to 86.85 million tons.

    Iron ore output was 1.51 billion tons, up 3.9%, or 56.86 million tons, from a year ago. That for December dropped 4.6% from a year earlier to 126 million tons. This had been the third consecutive month for the figure to fall.

    Zhu added inventory of iron ore at ports had fallen for seven consecutive months since hitting a record high in May 2014 . The inventory reached 98.24 million tons at the end of December 2014 , up about 11 million tons from the year start. The figure fluctuated at about 98 million tons in January 2015 .

    Average annual iron ore import price was USD 100.42 per ton in 2014, down USD 29.2 from a year ago. That for December was USD 75.61 per ton, down USD 4.05 from a month ago.

    Zhu reiterated that a list of domestic iron ore miners would go bankrupt if iron ore price continued dropping.


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