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1.Market Observations, 8.Was Sticky

31 Mar 2017 (AFR) – China Iron and Steel paints bearish picture for iron ore producers

(31 March 2017, AFR, p28, by Tess Ingram)

‘The China Iron and Steel Association has painted a challenging picture for Australia’s iron ore producers, arguing Chinese steel demand has entered an “era of reduction” and will decline in 2017.  CISA represents China’s biggest state-owned steel mills and generates forecasts used by Beijing to help formulate its five-year plans. Speaking at an iron ore conference in Perth on Thursday, CISA vice president Li Xinchuang said China’s steel industry had transitioned from a period of expansion to an “era of reduction” which would see the country’s steel demand decline 1.9 per cent in 2017 to 660 million tonnes.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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