国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Industries

Iron ore stocks hit record high

By Du Juan (China Daily) Updated: 2012-07-20 09:36

Iron ore inventories in China reached a record high of about 100 million metric tons due to shrinking downstream demand, but major global suppliers are still increasing output.

Iron ore stocks hit record high

The 30 major ports in China have total iron ore stocks of 97.92 million tons, according to figures from mysteel.com, a steel industry information provider.

High stocks and declining prices have increased the risks for iron ore traders, who are facing increasing financial pressure to repay loans. Meanwhile, steel factories are more cautious when purchasing raw materials.

However, China still imported 58.31 million tons of iron ore in June, a slight decline compared with the 63.84 million tons imported in May.

"China has always played the role of savior of foreign iron ore miners," said Zhang Lin, senior analyst at the Lange Steel Information Research Center. "The steel market is weak, which leads to falling iron ore prices. However, the price is not below $100 yet."

China's stable imports of large quantities of iron ore may be the source of the foreign giant miners' confidence, Zhang said.

Rio Tinto Plc said on Tuesday that the company had a record-high output of 120 million tons of iron ore in the first half of the year, up 4 percent year-on-year. The company estimated that it will produce 250 million tons of iron ore in 2012.

BHP Billiton Ltd, another giant mining company, said on Wednesday that its iron ore output in June increased 15 percent to 40.9 million tons.

It said it will have a total output of 159 million tons this year, also a record figure for the company. BHP Billiton is making efforts to achieve its annual output target of 220 million tons in 2014.

Fortescue Metals Group, the third-largest Australian iron ore producer, said its output increased 54.7 percent to 19.16 million tons in the second quarter. The company plans to sell 55.8 million tons of iron ore in the 2011-2012 fiscal year, a 40 percent year-on-year increase.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
江门市| 吉木乃县| 山东省| 肥东县| 庆阳市| 雷波县| 淮南市| 会理县| 曲沃县| 永兴县| 前郭尔| 东平县| 西宁市| 蒙城县| 中江县| 荃湾区| 临泉县| 北流市| 健康| 尤溪县| 沐川县| 哈巴河县| 铁岭市| 邹城市| 广南县| 巨鹿县| 沭阳县| 都昌县| 璧山县| 敦煌市| 甘孜| 肃北| 恭城| 五峰| 巨鹿县| 正镶白旗| 涡阳县| 池州市| 乐安县| 西峡县| 广丰县|