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On April 29, we learned from China Iron and Steel Industry Association that the demand of the national steel market declined in the first quarter, and the apparent consumption of crude steel declined a little more than that of last year. Domestic iron ore mines are difficult to cope with the price competition of foreign mines. Iron ore prices have fallen sharply. China's domestic iron ore mines are generally facing losses, production reduction and even partial shutdown. The dependence of iron ore on foreign countries will exceed 80%.
According to estimates, the apparent consumption of crude steel in China in the first quarter was 177 million tons, down 6.2% from the same period last year. As for iron ore, affected by the increase of supply and the weakening of demand, the price of imported iron ore has fallen sharply since last year, from $133.1/ton at the beginning of last year to $51.2/ton at the end of March, and further to $47.8/ton on April 13. On the one hand, it has created conditions for iron and steel enterprises that eat imported iron ore to reduce costs. On the one hand, it makes the operation of domestic iron and steel enterprises with mines difficult. Especially, the advantages of raw materials of combined enterprises with mines such as Angang, Shougang, Taigang and Hebei Iron and Steel gradually disappear, and even become the burden of operation and development. Domestic iron ore mines are generally faced with loss, reduction of production or even partial shutdown. The reduction of the national iron ore resource tax by 40% will play a certain role in alleviating the loss of iron ore, but it is not enough to compete with foreign mines. The dependence of iron ore on foreign countries will exceed 80%, which is not conducive to the safety of domestic iron and steel industry.
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