We predict that the iron ore price will decrease

With the continuous promotion of production reduction in the national iron and steel industry in China, we predict that iron ore prices continue to decline.

In 2021, from January to August the data shows as below,China imported 746 million tons of iron ore .

China exported 3639.1 tons of rare earth in August, compared with 3,955.4 tons in July, according to the General Administration of Customs.  

China's crude oil imports fell 5.7% year on year to 346 million tons.  China's natural gas imports rose 22.2 percent year on year to 793.1 million tons.  

General Administration of Customs: Coal and lignite imports in August 28.052 million tons;  Imports of coal and lignite totaled 197,688,000 tons, down 10.3% year on year. Natural gas imports in August were 10.441 million tons. Natural gas imports totaled 79.306 million tons, up 22.2% year on year.  

As the national steel industry continues to cut production, iron ore prices continue to plummet.  By the afternoon close of the domestic futures market on Sep. 7th,we predict the iron ore futures have fallen more than 8 % since September.  

With the reduction of production in the domestic iron and steel industry entering a critical period, 

all localities have taken measures to limit production and reduce production one after another, 

and strive to reduce the crude steel output year-on-year in 2021.