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The Import Of Iron Ore In China Is Decreasing

Australia, the world's largest exporter of iron ore, gave a mixed message in a quarterly report released on Monday: China is expected to reduce ore imports in the coming years.
Australia's Ministry of industry, innovation, and technology believes that iron ore prices will go down year by year in the next three years. This is mainly due to the decline of China's iron and steel production and the supply of iron ore, which is flooded with the international market, thus dragging the price of ore. Australia's exports of iron ore have 80%-85% flows to China. In China, 62% of the imported iron ore came from Australia, and 16% of them came from Brazil.

At the same time, due to the supply of iron ore from Brazil and other competitors, Australia believes that the price of iron ore will fall this year, likely to fall to $55 / ton by the end of the year, and further to $49 / ton in 2020. "The ore price will be down before the moderate recovery."

Australia's Ministry of industry, innovation, and technology said that China's steel output will decline, which will further affect iron ore demand and drag down prices. The main factor behind this is that China's construction activities and infrastructure investment are slowing down, and environmental regulation is tightening constantly, resulting in a decline in steel output. In recent months, it has also superimposed on the historical high inventory factor.

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