Iron-Ore 2016: A review of the iron-ore sector
The slowest pace of economic expansion in China in 25 years has dragged the price of iron-ore down. The world’s second-largest economy is expanding at a more modest rate than expected, slowing what seemed to be an unstoppable demand for the mineral at one stage.
In the low price environment, only the largest- and lowest-cost producers are surviving, with iron-ore mines in China, Canada and South Africa buckling under the pressure. High-cost producers are curtailing investment, scaling back operations, cutting costs and reducing jobs to remain viable. Meanwhile, iron-ore production, notably from major low-cost suppliers in Australia and Brazil, continues to expand. This supply growth has outpaced demand growth, creating a supply glut.
Thus, the year ahead is likely to be another challenging one for iron-ore producers, with supply growth expected to continue to outpace demand growth in the near term, keeping prices subdued. Also, no major stimulus is expected from the Chinese government to boost investment.
Creamer Media’s Iron-Ore 2016 report provides an overview of the global iron-ore market, with particular reference to supply, demand, trade and pricing. It provides not only information on the major global iron-ore producing companies and other significant producers but also an overview of South Africa’s iron-ore market and its major producers.
This report draws from material published over the past 12 months and is a summary of other sources of information published in Engineering News and Mining Weekly, as well as of information available in the public domain. This report does not purport to provide an analysis of market trends.
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