In 2012, iron ore may present a situation of oversupply
“According to the current development plan of major iron ore projects, it is expected that the supply and demand of the iron ore market will have an inflection point from 2012 to 2013, and supply is expected to exceed demand.†An official of the Western Australian Government told reporters in Beijing yesterday, “But It is still tightly supplied.†This is the timetable for the market oversupply that will be announced for the first time by the iron ore supplier’s representative. Over the past few years, 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 projects will soon be released.
Perhaps it is aware of the transformation of iron ore future supply and demand situation. A management of Baosteel Group told this newspaper yesterday that large-scale investment in iron ore resources by steel companies may not be a good choice.
Australian iron ore resources are concentrated in Western Australia. According to the above-mentioned Western Australian government officials, the volume of iron ore shipments in Western Australia from 2009 to 2010 was 410 million tons. At present, Australian iron ore accounts for about 40% of China's imported iron ore market.
He expects that in terms of potential market demand, the global market demand for iron ore in Australia may be 620 million to 680 million tons in 2015 and 760 million to 870 million tons in 2020, but the iron in Western Australia. The ore capacity is expected to reach 940 million tons by 2015 and 1.16 billion tons by 2020.
Western Australia's iron ore supply has increased significantly. In addition to the large-scale expansion of existing mines such as Rio Tinto and BHP Billiton, a large part of it has also benefited from the investment of Chinese companies in recent years.
On October 26, the acquisition of the Australian iron ore project initiated by Chongqing Iron and Steel last year was completed in Chongqing based on the approval of the Chinese and Australian government departments. After the project is completed, it will provide 10 million tons of high-purity magnetite concentrate for heavy steel.
In addition, a large number of Chinese companies such as Angang, Sinosteel, Shougang, Valin Steel (000932, shares), Baosteel, etc., have invested in Australia or directly invested resources, which has led to the development of a large number of local projects.
According to the official, in 2002, the Western Australian iron ore mining rights area was approved at 44,000 square kilometers, and the applied mineral rights were 53,000 square kilometers. By 2009, the iron ore mining rights area had been granted mineral rights. It has reached 111,000 square kilometers, and the mining rights in the application are as high as 139,000 square kilometers.
He further revealed that as of June 30 this year, Western Australia had 21,160 mining rights, accounting for 21% of the state's area (517,000 square kilometers), with 1,100 applications per quarter and 7800 pending approvals. Application.
The above-mentioned management of Baosteel Group told this newspaper that it is expected that many new iron ore project capacity will be released from around 2014. Iron ore has been in short supply for a long time in the past few years. Driven by the market, the state encourages enterprises to “go out†to invest in iron ore enterprises.
The WISCO Group stated that during the “Twelfth Five-Year Plan†period, the Group will have a production capacity of more than 60 million tons. Through the “going out†strategy that was vigorously implemented, the company has already mastered the 10 billion tons of iron ore equity resources, all of which have reached After delivery, it can meet the needs of more than 85%.
However, Baosteel Group has not invested too much in overseas mines in recent years. The above-mentioned management of Baosteel Group believes that steel companies should allocate resources globally and comprehensively solve the supply and use of raw materials such as iron ore, ferroalloy and coal in a global package according to their future development strategies, but they need special care. Yes, global allocation of resources is by no means equal to buying a mine or buying a mining boat to pull home. â€
“A few years later, the global supply of iron ore will increase substantially, and it will definitely exceed supply. But domestically, the growing scrap output will replace some of the iron ore gap.†He said, at the same time, after 2010 With the decline of large-scale infrastructure investment, China's steel industry will enter a period of low-speed growth in the context of oversupply. Urbanization will become the main driving force for China's steel consumption growth, and economic restructuring will drive the upgrading of steel product structure.
Perhaps it is aware of the transformation of iron ore future supply and demand situation. A management of Baosteel Group told this newspaper yesterday that large-scale investment in iron ore resources by steel companies may not be a good choice.
Australian iron ore resources are concentrated in Western Australia. According to the above-mentioned Western Australian government officials, the volume of iron ore shipments in Western Australia from 2009 to 2010 was 410 million tons. At present, Australian iron ore accounts for about 40% of China's imported iron ore market.
He expects that in terms of potential market demand, the global market demand for iron ore in Australia may be 620 million to 680 million tons in 2015 and 760 million to 870 million tons in 2020, but the iron in Western Australia. The ore capacity is expected to reach 940 million tons by 2015 and 1.16 billion tons by 2020.
Western Australia's iron ore supply has increased significantly. In addition to the large-scale expansion of existing mines such as Rio Tinto and BHP Billiton, a large part of it has also benefited from the investment of Chinese companies in recent years.
On October 26, the acquisition of the Australian iron ore project initiated by Chongqing Iron and Steel last year was completed in Chongqing based on the approval of the Chinese and Australian government departments. After the project is completed, it will provide 10 million tons of high-purity magnetite concentrate for heavy steel.
In addition, a large number of Chinese companies such as Angang, Sinosteel, Shougang, Valin Steel (000932, shares), Baosteel, etc., have invested in Australia or directly invested resources, which has led to the development of a large number of local projects.
According to the official, in 2002, the Western Australian iron ore mining rights area was approved at 44,000 square kilometers, and the applied mineral rights were 53,000 square kilometers. By 2009, the iron ore mining rights area had been granted mineral rights. It has reached 111,000 square kilometers, and the mining rights in the application are as high as 139,000 square kilometers.
He further revealed that as of June 30 this year, Western Australia had 21,160 mining rights, accounting for 21% of the state's area (517,000 square kilometers), with 1,100 applications per quarter and 7800 pending approvals. Application.
The above-mentioned management of Baosteel Group told this newspaper that it is expected that many new iron ore project capacity will be released from around 2014. Iron ore has been in short supply for a long time in the past few years. Driven by the market, the state encourages enterprises to “go out†to invest in iron ore enterprises.
The WISCO Group stated that during the “Twelfth Five-Year Plan†period, the Group will have a production capacity of more than 60 million tons. Through the “going out†strategy that was vigorously implemented, the company has already mastered the 10 billion tons of iron ore equity resources, all of which have reached After delivery, it can meet the needs of more than 85%.
However, Baosteel Group has not invested too much in overseas mines in recent years. The above-mentioned management of Baosteel Group believes that steel companies should allocate resources globally and comprehensively solve the supply and use of raw materials such as iron ore, ferroalloy and coal in a global package according to their future development strategies, but they need special care. Yes, global allocation of resources is by no means equal to buying a mine or buying a mining boat to pull home. â€
“A few years later, the global supply of iron ore will increase substantially, and it will definitely exceed supply. But domestically, the growing scrap output will replace some of the iron ore gap.†He said, at the same time, after 2010 With the decline of large-scale infrastructure investment, China's steel industry will enter a period of low-speed growth in the context of oversupply. Urbanization will become the main driving force for China's steel consumption growth, and economic restructuring will drive the upgrading of steel product structure.
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