Chinese iron ore consumption
China iron ore demand growth slowed:sand mining process January-November 2010 pig iron production was 543.57 million tons, equivalent to 869.71 million tons of iron ore demand, an increase of 8% expected annual growth of about 7.7-8% in the last 10 years after the 2008 low, the financial crisis in 2008, annual demand for iron ore increased by only 0.2%, over the past 10 years,Indonesia iron sand mining plant China's annual iron ore demand growth of 17.5 percent growth in 2009 was 15.5 %.
China's "Eleventh Five-Year" in 2010, per unit of GDP of last year, the previous Government's commitment to cut emissions by 20%, while the "Eleventh Five-Year completed 14.3 percent from the previous four years, 2010 3-4 quarter for the steel industry, the introduction of the limit production, and eliminate backward production capacity of macro-policy Development and Reform Commission published in 2010, 175 out of iron production list, involving enterprises, total 213 blast furnace iron production capacity of 35 million tons. The beginning of the third quarter issued a more stringent limit capacity to make, and power cuts policy, resulting in three-quarter of China's pig iron production decreased by 8% than the second quarter, fourth quarter and no signs of recovery, so the trend of the 2010 Chinese iron ore demand and similar to the global, high to low growth rate is far behind the rest of the world.
Mysteel data show that China's apparent consumption of iron ore this year, about 1.597 billion tons, although they are still maintained a certain level of growth, but the increase has narrowed; which needs to be considered domestic ore proportion of imported ore grade to gradually reduce and increased significantly.
China's imports can be seen that the first 10 months of this year, China's iron ore imports of 503 million tons, compared to last year, down 8%; of estimated annual imports of iron ore will be about 600 million tons, or slightly lower than last year.
Since 2007, China's iron ore imports for the first time a declining trend, some people talk about, which is China's demand for imported ore has been cooling.
2006-2008 Chinese iron ore consumption
China's iron ore consumption in 2006 by ore reached 914 million tons to 993 million tons in 2007, reached 1.045 billion tons in 2008, reached a new high, while in 2000 China's iron ore consumption was only 290 million tons, with the rapid growth of China's steel production, consumption of iron ore every year a sharp rise in recent years, China has the world's largest iron ore consumer.
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