China is the world's by far the largest steelmaking commodity importing countries, imports accounted for half of the market World Steel Pipe News , followed by Japan, Korea and Germany.
mining giant BHP Billiton said the global steel overcapacity will be the impact of iron ore, coking coal and steel-making raw materials such as short-term needs World Pipe network informed.
will Billiton base metals (especially copper) prospects will have much more optimistic. The company said customers are re-added copper stock, the premium paid for the physical supply (outside part) of the London Metal Exchange prices continue to rise.
Since last year, due to the world, particularly China's steel production is a significant increase in iron ore and coking coal prices doubled, and enhance the capacity of BHP Billiton and its rival Rio Tinto, CVRD profit.
will Billiton global economic growth in the short term is still cautious, that China's economic growth will slow in the second half of this year and next year, in addition, the economic development of developed countries remains uncertain sex. However, the developing countries continued to promote the urbanization and industrialization, its long-term prospects for the global economy still holds a positive attitude. BHP Billiton said that the medium term, demand for commodities is still mainly depends on the demand from emerging markets and developed countries economic growth is expected to be inhibited due to government stimulus gradually exit.
iron ore and coking coal due to the change of the pricing mechanism in the commodities market more attention, more attention to the movements of the spot market a new mechanism based on quarterly contracts. In April of this year, iron ore spot prices hit over $ 180 per ton two years, a new high after all the way down, fell to a low of $ 117 per ton in June. Since then prices have rebounded.