india is the largest spot supplier of iron ore into china and has doubled its share of global seaborne IO trade in the last 5-10 yrs,india accounts for approx 11 pct of global IO trade,limiting supply can only tighten the IO market further and is bullish for aussie and brazilian IO exporters.i do not believe the china boom is going to slow much eg global stainless steel production is forecast to grow some 6pct this next year!!! ,(this figure was given to me by a CEO of a large nickel producer)chinese domestic demand is booming,as it is in the other BRIC countries and growth in the gulf states is strong as well.I do not see a major slow down in china,all i see is supply of IO being tight and demand staying strong, therefore prices to stay strong.
this can only benefit FMG.
india is the largest spot supplier of iron ore into china and...
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$21.69 |
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Mkt cap ! $66.41B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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