Iron ore index set to go on trial
By Richard Fu |
August 3, 2011, Wednesday
|
Print Edition
Print Edition
CHINA will start publishing an iron ore price index later this month on a trial basis to give steel mills a guide to their imports of the steel-making ingredient for which China is the top buyer globally, the China Iron and Steel Association said yesterday.
The index will comprise two sub-indexes for domestic iron ore prices and import prices respectively, CISA said. The CISA said it will officially launch the index in October when it will be published weekly.
China is the world's top iron ore importer.
Zhang Changfu, vice chairman of the CISA, said yesterday that domestic steel mills have paid a total of US$16 billion more for iron ore imports in the first half of this year due to higher prices.
Also yesterday, the Ministry of Industry and Information Technology said China's crude steel output may slow in the second half of this year on lower industrial production growth, power restrictions, tighter credit and the closure of outdated capacity.
The ministry said China's crude steel production may total 690-700 million tons in 2011, up from 627 million tons last year.
The forecast was in line with that of the CISA, which said yesterday that steel output growth may slow in the second half.
The country's crude steel output gained 9.6 percent to 350 million tons in the first six months of the year.
The index will comprise two sub-indexes for domestic iron ore prices and import prices respectively, CISA said. The CISA said it will officially launch the index in October when it will be published weekly.
China is the world's top iron ore importer.
Zhang Changfu, vice chairman of the CISA, said yesterday that domestic steel mills have paid a total of US$16 billion more for iron ore imports in the first half of this year due to higher prices.
Also yesterday, the Ministry of Industry and Information Technology said China's crude steel output may slow in the second half of this year on lower industrial production growth, power restrictions, tighter credit and the closure of outdated capacity.
The ministry said China's crude steel production may total 690-700 million tons in 2011, up from 627 million tons last year.
The forecast was in line with that of the CISA, which said yesterday that steel output growth may slow in the second half.
The country's crude steel output gained 9.6 percent to 350 million tons in the first six months of the year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
