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Tag Archives: China’s domestic growth

China continues to dominate world economy

06 Thursday Feb 2014

Posted by Angela Chao in Dry bulk shipping

≈ 23 Comments

Tags

China’s domestic growth, China’s mining industry, energy resource development, freight rates, iron ore, mining activity, shipping costs, steel consumption

China’s stature as an international powerhouse can be felt in economic markets across the globe. China’s domestic growth and increasing consumption is driving commodity prices, shipping costs, mining activity, steel consumption, and energy resource development. Most influenced are dry bulk shipping prices, especially iron ore and coal, central to China’s steel production.

vortex

Mid-December market analyses of several sectors show the degree of China’s influence. Prices for iron ore entering China, for instance, were holding steady at $140 per ton, exceeding even the expectations of the world’s leading mining companies who with each passing year are exporting more of their raw materials to China: Vale, Rio and BHP. The high prices were felt across China’s mining industry, some more deeply than others as they faced production costs of as much as $170 per ton. Over the first 11 months of 2013, China’s cumulative iron ore imports increased by 11%. September and November were record months, with 74.6 metric tons and 77.8 metric tons respectively, a significant jump from October’s total imports of 67.8 metric tons. Forecasters expect that a total of 801 metric tons will have reached China’s ports by the end of 2013, representing 67% of the 1,197 metric tons forecasted to reach ports in the rest of the world. China’s population growth combined with a healthy economy and busy construction industry are pushing up her per capital consumption of steel. As a consequence, the BCI 4TC index rose from a daily average of $6,136 in the first half of 2013 to $22,016 in the second half (as of 13 December). Continue reading →

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About Me

Angela Chao
Chairman and C.E.O. of Foremost Group, a leading shipping and trading enterprise, Angela Chao is an active businesswoman who serves on several boards and loves to volunteer. Angela comes from a loving and supportive family of Chinese descent. The Chao family dedicate themselves to serving and contributing to society.

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Recent Posts

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  • Dry bulk shipping
  • Shipping Events

Tags

Baltic Capesize Index BDI Capesize rates China Chinese economy coal imports coal shipping Crude Oil Dalian Commodity Exchange dry bulk market dry bulk shipping dry bulk shipping market freight rates iron ore Iron ore prices iron ore shipping Iron ore shipping vessels shipping industry steel steel industry

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