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Iron ore monopoly after 4 years or completely break the dependence of foreign mines to 42%
Wu Rongqing, chief engineer of the Industry Development Department of China Mining Association, said at the 2011 China Iron Ore Conference on the 23rd that in the next four years, the situation of several giants monopolizing the world iron ore market will be completely broken. This year, China's overseas iron ore's equity mine supply reached 110 million tons, an increase of about 22% compared with 90 million tons last year. In 2015, the dependence of mines fell to 42%. Wu Rongqing said that Rio Tinto, BHP Billiton and Vale do have the best quality iron ore resources in the world, but they are not all resources. In fact, the world's iron ore resources are enough for all humans to use for 100 years. Since 2003, as iron ore prices have risen year after year, attracting a large amount of funds to enter the industry, a large number of expansion and new construction projects will soon be released. According to reports, the main production area of ​​iron ore in Western Australia, Australia, currently has an annual output of 410 million tons, and the output in 2015 will reach 940 million tons, and in 2020 it will reach 1.16 billion tons. On the other hand, as the most important importer of iron ore in the world, the projects that Chinese enterprises have “goed out†in recent years to sign and develop and construct are expected to release their production capacity in tandem from 2011 to 2012. It will increase from the current 90 million tons to 200 million tons. In addition, the production of domestic mines in 2015 is expected to reach 1.5 billion tons, the total supply of finished minerals will reach 760 million tons, the demand will not exceed 1.32 billion tons, and the import dependence of foreign mines will fall back to 42%. “Multiple factors indicate that the supply and demand relationship in the international iron ore market will be developed from the current 'supply tightness' to 'supply exceeds demand' before and after 2013-2014. As the three giants have torn one-sidedly and long-term supply with Chinese steel companies Contracts, other emerging suppliers will certainly replace them, and compete for the Chinese market share. At that time, the shadow of international resources monopolization in the Chinese steel industry is expected to be broken." Wu Rongqing said that with the supply pattern from monopoly to pluralism, The shift in demand pattern from decentralization to concentration will continue to pursue a procurement model based on long-term agreement prices. Vale expects tight supply of iron ore as one of the existing monopolists - Merrill, China's president of Vale, said that iron ore supply will continue to be tight in the next few years. Merris said that there are no new large iron ore projects in Vale. Moreover, India’s iron ore exports will continue to decline this year, and many analysts believe that it may reduce by about 55 million tons. In India, the annual iron ore export volume is usually around 100 million tons. At present, Indian ore exports have been gradually slowing down. Compared with last year, it was down 27% year-on-year. "This is something that many people have not expected." McLeish said. According to Merris, the company's iron ore and pellet production capacity is expected to be 522 million tons in 2015, while its current production capacity is 322 million tons.