Tsuen Wan International: China to dictate the pace for iron ore.

June 1, 2011 - PRLog -- The globe's largest consumer of steel is about to change the iron ore game. Steel demand in China is expected to rise by around 25 per cent by 2015, to a massive 750 million metric tonnes. To ensure an adequate supply position, China is in the process of creating three iron ore mining groups, with a collective output capacity of 300 million tonnes, Tsuen Wan International was informed.

Six other groups with a capacity of 30 million tonnes are to be joined together to ensure steady supplies. Iron ore being the chief raw material used in the manufacture of steel.

Despite a forecast by the China Iron and Steel Association predicting that steel production in 2011 will exceed 680 million tonnes, the estimate, based on a forecast that China's economy will grow by more than 9%, could well end significantly higher.


``China and India are going to rule the steel market by 2012,'' Sharad M Joshi of JSW Steel told Tsuen Wan International, adding  that India too has raised its steel production capacity to emerge as the third largest steel maker in the world after China and the United States.

China is set to produce around 2 million tonnes of steel per day in 2012, while India's steel ministry has set a target of 124 million tonnes production capacity by 2012, Tsuen Wan International sources report.

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Tsuen Wan International is a leading independent investment company, based in the heart of Hong Kong. Tsuen Wan International offers a variety of investment products for institutional, corporate and high net worth investors in equity debt and FX markets.