Deeper market forces
13 September 2012
China’s demand for steel continues to affect the rest of the world, but the real issue isn’t input prices – it’s customers, argues Douglas Macbeth
The steel problems in China continue to have global repercussions. With 2,000 steel producers, the country is the world’s largest supplier, but to keep this monster fed with iron ore requires the equivalent of another 42 ships this year, each with a capacity of 170,000 tons.
This seemingly insatiable demand for iron ore also has an impact on the supply of coal...