{"id":632,"date":"2014-12-02T08:21:44","date_gmt":"2014-12-01T21:21:44","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=632"},"modified":"2014-12-02T08:21:44","modified_gmt":"2014-12-01T21:21:44","slug":"iron-ore-could-be-in-trouble-for-over-ten-years","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2014\/12\/02\/iron-ore-could-be-in-trouble-for-over-ten-years\/","title":{"rendered":"Iron ore could be in trouble for over ten years"},"content":{"rendered":"

An analyst out of China has warned the price of iron ore could fall to lows of $US50 a tonne<\/strong>.<\/p>\n

Shanghai Jianfeng vice-president Liang Ruian said oversupply coupled with a slowing property market in China could mean the price rout lasts for 10 years.<\/p>\n

Speaking to The Australian Liang said the stagnate state of the Chinese real estate market would have a devastating effect on the steel industry.<\/p>\n

\u201cThe inventory of housing is up to a couple of years, while in China the rapid development of the e-commerce market is having a big impact on the sales and rents for the commercial real estate market. I think the golden ten years that we have had in the real estate market in China is over,\u201d Liang said.<\/p>\n

\u201cThe crash of the real estate market means the crash of the steel market.\u201d<\/p>\n

The comments come as new figures reveal steel consumption in China has fallen by 0.3 per cent, the first decline in 14 years.<\/p>\n

It was also revealed that there is 108.4 million tonnes of iron ore stockpiled at Chinese ports.<\/p>\n

Last week, Li Xingchuang, president of theChina Metallurgical Industry Planning Association, said steel production would peak at 740 million tonnes in 2017.<\/p>\n

The world\u2019s biggest miners, BHP Billiton and Rio Tinto have said Chinese steel production will peak at 1 billion tonnes by 2030.<\/p>\n

\u201cI really don\u2019t understand how the big mining companies made that forecast,\u201d said Xingchuang at a steel conference in Shanghai.<\/p>\n

As major miners including Rio, BHP and Vale continue with expansion plans that will introduce even more supply into the iron ore market, analysts say a further crash in prices in inevitable.<\/p>\n

Expansions will add around 94 million tonnes of new supply from 2015, 75 million tonnes in 2016, and 81 million tonnes in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"

An analyst out of China has warned the price of iron ore could fall to lows of $US50 a tonne. Shanghai Jianfeng vice-president Liang Ruian said oversupply coupled with a slowing property market in China could mean the price rout lasts for 10 years. Speaking to The Australian Liang said the stagnate state of the … Continue reading “Iron ore could be in trouble for over ten years”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-632","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-ac","jetpack-related-posts":[{"id":614,"url":"https:\/\/yinghuiinternational.com\/index.php\/2014\/11\/28\/the-2015-metals-outlook-series-iron-ore\/","url_meta":{"origin":632,"position":0},"title":"The 2015 Metals Outlook Series: Iron Ore","author":"yinghui","date":"November 28, 2014","format":false,"excerpt":"While the mining boom was tied to the skyrocketing gold price and the massive demand in coal, what really created it was iron ore: the explosion in the metal's price is what really drove the mining boom to its spectacular highs, lifting Australia out of the Global Financial Crisis that\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"The-2015-Metals-Outlook-Series-Iron-Ore-657949-xl_1","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2014\/11\/The-2015-Metals-Outlook-Series-Iron-Ore-657949-xl_1.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2014\/11\/The-2015-Metals-Outlook-Series-Iron-Ore-657949-xl_1.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2014\/11\/The-2015-Metals-Outlook-Series-Iron-Ore-657949-xl_1.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":2616,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/02\/08\/the-most-valuable-mining-brands\/","url_meta":{"origin":632,"position":1},"title":"The most valuable mining brands","author":"yinghui","date":"February 8, 2018","format":false,"excerpt":"Australian miner BHP has unseated Glencore as the most valuable brand in mining, according to research from Brand Finance. 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