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Australia's major mining companies, iron ore shipments tend to be stable

Date:2016-10-24 21:59:54 Visits:

After years of active growth, the main ore miners in Australia in recent months, the amount of iron ore shipments tend to be stable, which had previously been hit by excess supply concerns price.

The rapid growth of Chinese economy, the construction of skyscrapers, bridges and other infrastructure requires a large amount of steel, therefore, Rio and other miners poured billions of dollars to expand their mining projects in australia.

At present, their iron ore shipments to show signs of stability, due to the huge expansion of the mine to complete the plan, the attention turned to copper, bauxite and other commodities, such as oil.

A stable supply of iron ore will help to support the price, since the beginning of the year, iron ore prices have risen 35%.

On Tuesday, the world's second largest exporter of iron ore Rio Tinto (RioTinto) said that in the three quarter of this year, Rio Tinto's Australia iron ore shipments to 80 million 900 thousand tons, representing a decline of 2% in the first quarter.

Rio Tinto said that in 2016 the total amount of iron ore shipments expected to be lower than expected, and the target from the previous 3.30 tons down to 3.25-3.30 million tons.

In addition, the Australian iron ore company FortescueMetalsGroup, said exports in the three quarter increased by 1% over the previous quarter, to 43 million 800 thousand tons.

A day earlier, BHP (BHPBilliton) also reported a slight increase of 1% in the quarter, to 65 million 400 thousand tons of iron ore sales.

BHP is the world's third largest iron ore exporter, Fortescue ranked fourth. And the world's largest exporter of iron ore is Brazil's Vale company.

Australia, the number of major ore miners iron ore shipments have showed a stable upward trend. Rio's iron ore shipments increased by more than 50% during 2009-2015.

At present, the world every 5 tons of seaborne iron ore trading volume, there are 3 tons from the remote Pilbara mining area, Rio Tinto, BHP and Fortescue are in the local mining project.

"They are in a state of satisfaction," said JamesWilson, an analyst at ArgonautSecurities in Perth. "They don't have to put in more money. "

At the same time, China's iron ore production slowed, boosted import demand and support prices. As the world's most important steel producer, China is the world's largest consumer of iron ore.

This year, coking coal price is three times before, the main reason is China effects. Wilson said: "this is just to show you how fast the price cycle is changing.". "