Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (21337)	1/13/2005 7:39:57 PM
From: RealMuLan	Respond to of 116555

China's Iron-Ore Imports Will Grow 15% This Year, SSY Says Jan. 13 (Bloomberg) -- Chinese imports of iron ore for use in steelmaking will expand by 15 percent in 2005 as China increases steel output, shipbroker Simpson Spence & Young said. Iron ore imports will rise to 240 million tons as the world's fastest growing economy starts new steel mills, SSY told a meeting held by the Organization for Economic Cooperation and Development today in Paris. The iron ore mining industry will maintain its status as the leading growth area for the shipping industry, SSK said in an e-mailed report used as a presentation at today's conference. Melbourne-based BHP Billiton Plc, the world's largest mining company, Rio de Janeiro-based Vale do Rio Doce and London- based Rio Tinto Plc will boost their iron ore mining capacity by more than 150 million tons a year in the next four years to meet higher demand from steelmakers, SSY said. China's steelmakers will raise output of the metal used in washing machines and cars by 12 percent to 303 million tons this year, SSY said, and by a further 7 percent in 2006. bloomberg.com