Rapid growth is expected to continue in 2011, with industry revenue growing by 36.8%.
Los Angeles, CA (PRWEB) November 14, 2011
China’s rapid industrialization and urbanization will continue to stimulate demand for steel products, and, in turn, iron ore. World iron ore prices are expected to increase moderately, further contributing to strong revenue growth for the Chinese Iron Ore Mining industry, according to IBISWorld, America’s largest publisher of industry research.
The Iron Ore Mining industry in China has experienced drastic changes in the past five years. The slowdown in China's economy, and the world economy as a whole, resulted in significant declines in iron ore demand and product prices in 2009. Despite a significant increase in the volume of imported iron ore, the import value decreased by 14.9% in 2009, accounting for 50.2% of domestic demand.
With the Chinese and global economies recovering in 2010, however, iron ore demand and price rose sharply. Industry revenue rebounded strongly, by 54.2% to US$85.9 billion, due to surging domestic demand and iron ore prices. Domestic iron ore output grew 21.7% in 2010 to 1.07 billion tons. Driven by an iron ore price surge of over 50% on the international market, industry imports grew by 49.5% in 2010, accounting for 49.4% of domestic demand.
Rapid growth is expected to continue in 2011, with industry revenue and imports growing by 36.8% and 31.6% respectively, according to IBISWorld.
For more information visit IBISWorld’s Iron Ore Mining in China report
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Enterprises in the Iron Ore Mining industry in China mine and beneficiate (remove impurities from) iron ores. Products in this industry include hematite, magnetite, limonite, siderite and taconite, in the forms of both ore and powder.
Iron Ore Mining in China Industry Report -- Key Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on 200 Chinese industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.cn or call 1-800-330-3772.