Saturday, 01 Oct 2011
Dow Jones reported that BHP Billiton Ltd, the leading producer of exported coking coal and manganese, forecast an acceleration in demand for raw steelmaking ingredients as industrial development continues in China, India and other emerging economies.
The Anglo Australian mining company said volume estimates for BHP coking coal and manganese businesses fall short of demand forecasts. It said it expects crude steel production in China, the world biggest consumer of steel to grow to about 1.1 billion tonnes by 2025.
BHP's global market share is about 26% in coking coal and 21% in manganese ore traded by sea. It has forecast average 9% growth in its production of iron ore, coking coal and manganese through the 2020 financial year.
Every tonne of crude steel requires about 600 kilograms of coking coal and roughly 30 kilograms of manganese ore. Growth in coking coal demand will be driven mainly by China and India as these populous nations continue to develop and urbanize.
Domestic supplies of quality hard coking coal in China haven't kept pace with demand while India is highly reliant on imports. China and eventually India will also drive demand for manganese.
(Sourced from Dow Jones)
Dow Jones reported that BHP Billiton Ltd, the leading producer of exported coking coal and manganese, forecast an acceleration in demand for raw steelmaking ingredients as industrial development continues in China, India and other emerging economies.
The Anglo Australian mining company said volume estimates for BHP coking coal and manganese businesses fall short of demand forecasts. It said it expects crude steel production in China, the world biggest consumer of steel to grow to about 1.1 billion tonnes by 2025.
BHP's global market share is about 26% in coking coal and 21% in manganese ore traded by sea. It has forecast average 9% growth in its production of iron ore, coking coal and manganese through the 2020 financial year.
Every tonne of crude steel requires about 600 kilograms of coking coal and roughly 30 kilograms of manganese ore. Growth in coking coal demand will be driven mainly by China and India as these populous nations continue to develop and urbanize.
Domestic supplies of quality hard coking coal in China haven't kept pace with demand while India is highly reliant on imports. China and eventually India will also drive demand for manganese.
(Sourced from Dow Jones)
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