• EKSPLORASI.ID
  • MONETER.ID
  • BANTEN.CO
Minggu, Juli 6, 2025
  • Login
EKSPLORASI.ID
  • HOME
  • BERITA
  • INDEPTH
  • RAGAM
  • ENGLISH NEWS
  • OPINI
  • VIDEO
  • FOTO
  • INFOGRAFIS
  • INDEKS
No Result
View All Result
  • HOME
  • BERITA
  • INDEPTH
  • RAGAM
  • ENGLISH NEWS
  • OPINI
  • VIDEO
  • FOTO
  • INFOGRAFIS
  • INDEKS
No Result
View All Result
EKSPLORASI.ID
No Result
View All Result
Home ENGLISH NEWS

Goldman Says China Iron Imports to Drop as Old Economy Fades

by Eksplorasi.id
19 Agustus 2016
in ENGLISH NEWS
0
Goldman Says China Iron Imports to Drop as Old Economy Fades

Goldman Sachs. (Source)

0
SHARES
39
VIEWS
Share on WhatsappShare on Facebook

Eksplorasi.id – Goldman Sachs Group Inc. is forecasting that steel consumption in China will shrink again from next year after a brief respite in 2016, and the nation’s iron ore imports will eventually start to decline too as policy makers shift the economy away from investment.

Steel demand will contract 2 percent in 2017 and a further 2 percent in 2018 following a 1 percent expansion this year, Goldman said in a report received on Friday that summarized results of new modeling. China’s steel consumption may end up dropping as much as 20 percent, according the bank.

Asia’s top economy accounts for about half of the world’s steel production, and the prospect of weakening demand for the alloy, as well as lower imports of iron ore, represents a challenge for miners including Rio Tinto Group, BHP Billiton Ltd. and Vale SA. While the biggest low-cost producers have managed in recent years to expand seaborne sales into China as local mine output was displaced, Goldman’s outlook raises the prospect of a shrinking market.

 “Demand for imported iron ore has benefited from the closure of domestic mines and the strength of Chinese steel exports earlier this year,” analysts Hui Shan, Amber Cai and Christian Lelong wrote in the report dated June 30. “But neither of those trends is sustainable and falling steel consumption will eventually lead to a decline in iron ore imports,” it said.

Ore Price
Ore with 62 percent content delivered to Qingdao was at $55.66 a dry ton on Thursday, according to Metal Bulletin Ltd. Prices have gained 28 percent in 2016 after dropping for three years. Goldman Sachs left its long-run forecast unchanged at $35 a ton.

China imported a record 953 million tons of iron ore in 2015, up from 933 million tons in 2014 and 619 million tons in 2010, according to customs figures. In a separate June 15 note, Goldman forecast China would import 971 million tons this year, then see shipments little changed at 975 million tons in 2017, before dropping through 2020, when they would total 904 million tons.

Australia’s government has signaled it expects China’s iron ore imports will plateau from next year as steel output declines, while the country’s top miners have said they see steel production still rising. Overseas iron ore purchases may climb to 1.03 billion tons in 2017 and hold at about that level over the next five years, according to the Department of Industry, Innovation & Science.

Rio’s View
Rio, Australia’s largest exporter, has said it expects China to be churning out about 1 billion tons of steel by 2030, while BHP, the second-biggest, projects that output will peak at between 935 million and 985 million tons in the mid-2020s. Last year, China produced 804 million tons of steel, official data show. It takes about 1.6 tons of iron ore make 1 ton of steel.

Steel consumption in China is declining for the first time in a generation as growth slows and policy makers seek to steer the economy toward consumption. Faced with declining local sales, Chinese mills have shipped record volumes overseas, helping to prop up purchases of seaborne ore. This year’s uptick in steel demand came after China added stimulus.

“The ongoing growth deceleration and rebalancing away from the old economy implies a secular downward trend in steel demand,” the bank said in the latest report. “At the same time, economic activity and steel consumption respond to periodical policy shifts that generate credit impulses and mini-cycles.”

Eksplorasi | Juta | Bloomberg

Tags: chinaGoldman SachsIronOre
Eksplorasi.id

Eksplorasi.id

Next Post
Investor Kilang Tuban, Saudi Aramco Mundur Karena Tersinggung

Aramco Leads Surge in Gulf Energy Loans After Oil’s Plunge

Tinggalkan Balasan Batalkan balasan

Alamat email Anda tidak akan dipublikasikan. Ruas yang wajib ditandai *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Pakar: Pembentukan ‘Holding’ BUMN Energi Harus Sesuai UUD 1945

Kirim Surat ke Jokowi, Serikat Pekerja PGN Tolak ‘Holding’ Migas

9 tahun ago
Pabrik Botol Ini 14 Tahun Hemat Pakai Gas Bumi PGN

Pabrik Botol Ini 14 Tahun Hemat Pakai Gas Bumi PGN

8 tahun ago

Sering Dibaca

  • Kejagung Tahan Mantan Direktur Keuangan Pertamina

    Kejagung Tahan Mantan Direktur Keuangan Pertamina

    0 shares
    Share 0 Tweet 0
  • Investor Asal Tiongkok Ingin Bangun PLTMH

    0 shares
    Share 0 Tweet 0
  • Satu Pal Listrik Mengaliri 60 Rumah

    0 shares
    Share 0 Tweet 0
  • Biji Kamandrah Diprediksi Jadi Energi Alternatif Masa Depan

    0 shares
    Share 0 Tweet 0
  • Menteri Jonan Kunjungi Kantor Chevron di Riau

    0 shares
    Share 0 Tweet 0

RSS Moneter.id

  • Pegadaian Ajak Mahasiswa untuk Investasi Sejak Dini Lewat Seminar Keuangan Syariah 3 Juli 2025
  • Menteri Ekraf Akan 'Selamatkan' 177 Film Lokal yang Belum Tayang di Bioskop 2 Juli 2025
  • Realisasi Penerimaan Pajak Mencapai Rp831,27 Triliun Hingga Semester I 2025, Menkeu : Masih Menunjukan Tekanan 2 Juli 2025
  • Gross Merchandise Value Flip Tumbuh Lima Kali Lipat 2 Juli 2025
  • OJK : Nilai Premi Kesehatan 2024 Sebesar Rp40,19 Triliun atau Naik 43,01 Persen 2 Juli 2025
  • Laba Bersih CLEO Tumbuh di Kuartal I-25 Mencapai Rp116,5 Miliar 2 Juli 2025
  • Toys Kingdom Hadirkan Tema Jurassic World Rebirth untuk Musim Liburan Sekolah 2 Juli 2025
  • Menteri PU Nonaktifkan Tiga Pejabat BBPJN Sumut Menyusul OTT KPK 2 Juli 2025
  • FWD Insurance Luncurkan Asuransi Jiwa FWD Future First untuk Proteksi Jiwa dan Diversifikasi Aset 2 Juli 2025
  • Informa Raih Penghargaan Ritel Furnitur Terbaik di Asia Tahun 2025 30 Juni 2025
EKSPLORASI.ID

© 2020 Eksplorasi.id - REFERENSI BERITA ENERGI

Navigate Site

  • REDAKSI
  • KETENTUAN LAYANAN
  • PEDOMAN SIBER
  • HUBUNGI KAMI

Follow Us

No Result
View All Result
  • HOME
  • BERITA
  • INDEPTH
  • RAGAM
  • ENGLISH NEWS
  • OPINI
  • VIDEO
  • FOTO
  • INFOGRAFIS
  • INDEKS

© 2020 Eksplorasi.id - REFERENSI BERITA ENERGI

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In