STEEL INDUSTRY AND TRADE – CHINA

Iron ore miners told to prepare for rough ride

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Original article by Rose Powell, Julie-anne Sprague
The Australian Financial Review – Page: 22 : 29-May-15

Iron ore was trading at $US63.10 per tonne on 28 May 2015. The China Metallurgical Industry Planning & Research Institute’s president, Xinchuang Li, expects it to trade within a range of $US55 to $US65 per tonne over the next several years. He adds that strong competition in China’s steel industry will keep downward pressure on the prices of both iron ore and steel. China imported 933 million tonnes of iron ore in 2014.

CORPORATES
CHINA METALLURGICAL INDUSTRY PLANNING AND RESEARCH INSTITUTE, STOCKBROKERS ASSOCIATION OF AUSTRALIA LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, CITIGROUP PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

China steel output may fall 25pc

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Original article by Angus Grigg, Jennifer Hewett, Phillip Coorey, Amanda Saunders
The Australian Financial Review – Page: 1 & 6 : 7-Apr-15

The price of iron ore fell to $US47 per tonne in early April 2015, and it has now shed 63 per cent since the beginning of 2014. Australian economist Ross Garnaut has forecast that steel production in China will decline by 27 per cent in the next 15 years, which would in turn affect demand for Australian iron ore. Meanwhile, Chris Richardson of Deloitte Access Economics notes that the continued fall in the iron ore price will slash Australia’s national income and tax revenue

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, VALE SA, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, BC IRON LIMITED – ASX BCI