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Print[ferro-alloys.com] China physical spot trading platform China Beijing International Mining Exchange report transaction of 7.5594 million tonnes in 84 deals in the H1 of the year ending June 30 accounting for 1.4% of iron ore deliveries to China during the period.
The exchange said Chinese steel industry faces overcapacity and weak profitability in the first half of the year; downstream steel consuming sectors see no real improvements and that iron ore market supply and demand are changing.
Data fromChina Customs said that China imported 384.52 million tonnes of iron ore in the first 6 months of the year, up 5.1 percentage points year on year, compared to 9.6 percentage point rise YoY in 2012; import value during the given period was only 0.3% higher YoY. In the meantimes offshore miners’ bid sales fall significantly from 2012.
The exchange said Chinese steel industry faces overcapacity and weak profitability in the first half of the year; downstream steel consuming sectors see no real improvements and that iron ore market supply and demand are changing.
Data fromChina Customs said that China imported 384.52 million tonnes of iron ore in the first 6 months of the year, up 5.1 percentage points year on year, compared to 9.6 percentage point rise YoY in 2012; import value during the given period was only 0.3% higher YoY. In the meantimes offshore miners’ bid sales fall significantly from 2012.
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