Iron ore prices have been surging since early March, with weekly gains of 21% in the first week of the month. Since November 18, 2021, the price of 62% grade Australian fine ore ($87.2 / ton) fell to the "freezing point" since the second half of 2020, iron ore prices have risen continuously, the first three months of 2022 increased by more than 60%, and led to a sharp rise in steel futures prices, until March 7 ~ March 9. After continuously trading above $160 / ton for 62% grade imported iron ore, the price finally stopped its upward "charge" and fell to $146.70 / ton on March 16.
Iron ore prices continue to soar whether the slitting electric line market has a certain impact ?
For a long time, the contradiction between supply and demand of iron ore in China has been sharp, and the abnormal fluctuation of global iron ore price has been frequent, which has hindered the high-quality and sustainable development of China's iron and steel industry. This is closely related to uneven distribution of iron ore resources in China, more lean ore and higher mineral processing cost.
Iron ore resources are concentrated in the world, and the iron ore resources are mainly explored in four countries. According to the United States Geological Survey statistics, in 2020, Australia, Brazil, Russia and China's iron ore reserves respectively accounted for 27.8% of the world's total iron ore reserves, 18.9%, 13.9%, 11.1%, the total reserves of the four countries accounted for 71.7% of the world's total reserves.
Ukraine, Canada, India and the United States are rich in iron ore resources. In addition, due to the slow development of geological work and poor infrastructure, the African continent is not exploring iron ore reserves, but it is rich in geological resources, which is one of the world's most potential areas. In particular, Simandou and Nimba mining areas in Equatorial Guinea contain more than 6 billion tons of iron ore with a grade above 60%, which is the largest undeveloped and highest grade mining area in the world.
In addition, the world's main iron ore geological scale is huge, concentrated contiguous, and most suitable for open-pit mining. For example, 95% of the iron ore resources currently discovered in Australia are located in Western Australia, mainly in the Pilbara region, while iron ore deposits in the Hamersley Basin in Western Australia cover an area of about 60,000 sq km, with a total resource of about 40 billion tons. The state of MinasGerais is home to 70 per cent of Brazil's iron ore. The state's famous "Four Corners" iron mines, covering some 15,000 sq km, still hold tens of billions of tonnes of high-grade iron ore after more than 40 years of mining.
Steel processing industry - Current status of the slitting electric line
Growth in the construction, automotive and consumer slitting electric line has played a big role in providing the needed boost to the global steel processing industry. The global steel processing industry is projected to grow at a CAGR of 6.86% between 2020 and 2026. Alloy steel is the fastest-growing segment of the global steel processing market and is suitable for all applications. If you have any questions about the slitting electric line or want to seek our help. Send an email to email@example.com ，please feel free to contact us.
Metal and Steel Processing industry – the slitting electric line market demand
Market demand for steel processing is expected to grow by us $642.43 billion by 2020, with a CAGR of 2.16% from 2015 to 2020. Growth in the global construction, consumer electronics and automotive industries has played a huge role in providing the necessary momentum for the global steel processing industry after the economic slowdown of 2007-2009. In addition, the reduction of alternatives to steel has made steel an indispensable part of customers lives. The recovery of the global slitting electric line economy will also boost demand in the steel processing market.
The Asia-pacific region is expected to become the fastest-growing region in the steel processing market from 2015 to 2020. Major players in steel processing prefer agreements, contracts, joint venture and partnership strategies as well as expansion and investment to gain a larger share of the market. Leading slitting electric line providers of steel processed products and services are focusing on emerging countries that are expected to show potential for industrial development in the near future.
Metal and Steel Processing Industry - Future planning of the slitting electric line
The steel processing market is a highly fragmented one due to the huge demand for environmentally friendly products and changing technologies. Large companies rely on regional and local distributors to increase their market share and geographic distribution. The company is pursuing inorganic growth strategies such as acquisitions to respond to the growing demand for steel processing in key emerging markets. These strategies have helped the company build a larger customer and partner base in key slitting electric line markets.
The application needs of steel processing are constantly changing and manufacturers must continue to invest in RESEARCH and development and come up with innovative solutions.
Steel deep processing is the only way for the development of the slitting electric line steel industry. Chinas steel production is in the stage of oversupply, structural contradictions are: advanced production capacity and backward production capacity coexist; The shortage of high-end products and the surplus of low-end products coexist; Industrial concentration is poor.
Leading manufacturer of metallic processing machines, the slitting electric line supplier
Foshan Te Xiang Machinery Co., Ltd is a China leading manufacturer of metallic processing machines, including slitting line, cut to length line, stainless steel polishing line, ERW tube mill line, roll forming machines, embossing line and etc.
Thanks to the experience acquired in many years of business in the field of sheet metal processing, and the continuous collaboration with downstream manufacturers that demand reliability and the maximum productivity, we have developed various types of cut to length line machines for special applications, with solutions at the forefront of technology, and able to reduce the production costs of the end product. TX CTL line can be incorporated with air cushioned, bomb-door type stackers, computer controlled high-precision 4 HI and 6 HI levellers, edge trimmer and etc.
According to the dimensions, thickness of the material, and production capacity, TX cut-to-length cutting lines can be divided into various types:
1)start-stop shear CTL line;
2)flying shear CTL line;
3)rotary shears CTL line ;
4)trapezoidal shear CTL line;
5)heavy gauge CTL line;
6)flat bar cut to length line
If you have any questions about the slitting electric line or want to seek our help. Send an email to firstname.lastname@example.org ，please feel free to contact us.
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Over $50+ million in sales
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