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China Armco Metals, Inc. Common Message Board

  • ksn_44 ksn_44 Mar 19, 2013 6:31 PM Flag

    Steel demand

    More on Rio Tinto (RIO): Greg Lilleyman, president of its Pilbara iron ore operations, sees weaker iron ore prices in H2 due to signs of a slowdown in Chinese steel demand growth and higher exports in Australia. Several projects will bring more supply on the market; RIO itself aims to reach an annual production rate of 290M tons of iron ore at Pilbara by September.

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    • Being replaced by scrap..

      "Iron ore miners suffered after Goldman Sachs analysts cut the price forecast, citing seaborne expansion projects, increases in China’s domestic ore production and an escalation of steel recycling. The downgrade follows similar warnings from Deutsche Bank a few weeks before saying iron ore prices face headwinds because of slowing demand for steel in China as well as an abundance of scrap metal."

      ft.co(delete)m/intl/cms/s/0/cfb8df56-909f-11e2-862b-00144feabdc0.html#axzz2O29XvjJg

 

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