Held in Qingdao in 2013, China international iron ore market seminar, the China Iron and Steel Association Vice President Wang Qi said, the iron ore market in the second half of this year will be obvious oversupply, the price of imported iron ore will further downward , the annual iron ore decline is expected to be 10 ~15 U.S. dollars / ton.

Wang Qi said, the steel output of the first quarter of this year, an increase of more than 9%, but the consumption increased by only 3.1%, a huge gap between output of 192 million tons and consumption of 149 million tons have become the stock is subject to digestion. Under the pressure of the huge amount of inventory, steel mills will certainly reduce capacity and thus reduce the demand for iron ore. Wang Qi reckoned the overall slowdown in Chinese demand for iron ore.

                                                                                     XSTEEL NEWS