Iron ore is objective requirements for economic development



CHINA'S dependence on imported supplies of iron ore, a raw material for
making steel, is poised to rise to almost 80 percent of consumption by
2015.Imports account for about 70 percent of Chinese supply now, Paul Gray, the
researcher's principal iron-ore market analyst, said yesterday at the 7th EU
Iron Ore Conference in Vienna. He estimated the country's 'medium-term' import
need for the commodity at 50 million metric tons a year.

China is the world's biggest steel producer and importer of the ore. It will
consume more than 1.2 billion tons a year by 2015, a Wood Mackenzie presentation
at the conference showed. China has invested in iron-ore projects from Australia
to Brazil to tighten its grip on global supplies amid expanding usage and
declining grades at domestic mines.In a keynote speech to some of the world's
leading miners at the Midwest International Mining Forum in Western Australia,
Wang identified the volatile price of iron ore as a negative influence on both
the Chinese steel industry, as well as the ongoing resource cooperation between
China and Australia.

The iron ore processing is the foundation of the development of steel
industry. In recent years, the development of the iron ore processing equipment
and technology in domestic market has been fast, and the common iron ore
processing equipment includejaw
crusher
and cone
crusher
whose constant innovation and reform lay solid foundation for the
fast rising of domestic steel industry.Henan Hongxing Mining Machinery Co., Ltd.
is a professional mining machinery manufacturing company, and we can provide a
complete set of equipment for processing iron ore, and these machines all have
high quality and the most competitive price and enjoy high popularity among the
customers.

'The early ventures overseas by Chinese entities have been the most
successful, the more recent ones have been rather more dubious and some have
been outright failures,' Gray said.This year, the steel industry in China is
experiencing a hard time. If the condition for the iron and steel industry can
not be improved, or if 'losses' occur over a long period of time, the demand and
supply situation between overseas and Chinese steel enterprises will have to
make adjustments, which in turn will lead to a frequent rise and fall in
international iron ore prices. Ultimately this will harm both sides and lead to
a 'lose-lose'

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