In a speech delivered at the 2013 China Iron Ore Inter-Kitchen Market Symposium, Wang Xiaoqi, Vice President of the China Iron and Steel Association, highlighted that global iron ore prices had "entered a downward channel." He predicted that the second half of the year would bring a significant oversupply in the iron ore market, with imported iron ore prices expected to decline further. The annual drop in iron ore prices was estimated to be between $10 and $15 per ton.
At the same time, global iron ore supply was set to increase rapidly. High profit margins in the industry had spurred expansion projects and new mine developments. Domestically, steel production output was expected to rise by around 20 million tons in 2013. On the international front, major players such as Brazil’s Vale, Australia’s Rio Tinto, and BHP Billiton were expanding their capacities, collectively reaching approximately 100 million tons of iron ore production in 2013. Additional projects, including Carrara and African mining ventures, were also advancing, with peak production anticipated between 2014 and 2015. Notably, CITIC Pacific’s iron ore project in Australia was also scheduled to start operations this year.
Liu Xiaodong, Director of Global Sales at FMG, the third-largest iron ore exporter in Australia, announced that the company's capacity for the year would reach 155 million tons.
Looking ahead, an oversupply of iron ore appeared inevitable. Wang Xiaoqi pointed out that in the first quarter of the year, domestic steel production rose by over 9% year-on-year, while consumption only increased by 3.1%. This created a gap of 192 million tons in production versus 149 million tons in consumption, leading to a buildup of inventory. Although the steel industry had been losing money for four consecutive quarters, lower coking coal prices improved conditions slightly compared to the previous year. With massive inventory pressures, steel mills were likely to cut back on production, further reducing demand for iron ore.
Wang also noted that if China’s service sector continued to grow in the future, steel demand could remain flat or even decline, which would slow overall iron ore demand.
Regarding price trends, Liu Pengfei, General Manager of Hebei Xinhua Iron and Steel Group Co., Ltd., suggested that $130 per ton would serve as a central reference point. He predicted a decline in April, followed by two months of recovery, then another drop in July, reaching a bottom before a potential rebound. Overall, he believed iron ore prices would fluctuate between $120 and $140 per ton throughout the year.
Emergency bulb lamp is a lamp that provides lighting function in case of power failure or other emergency. It is usually composed of LED lamp beads, battery, control circuit and other parts, can start quickly in emergency, provide lighting, ensure personnel safety .
The main features of the emergency bulb include:
High efficiency and energy saving : The use of LED lighting technology, has the advantages of high light efficiency, low energy consumption, effectively reduce energy consumption and carbon emissions .
Fast start : in the case of power failure or other emergency, can start quickly to provide stable and reliable lighting .
Long life : the use of high quality LED beads and batteries, with a long service life .
Easy to carry: usually small and light, easy to carry, can respond to emergency .
The emergency bulb has a wide range of application scenarios and is suitable for:
Home and dormitory: Provide lighting when power is off .
Public places: such as shopping malls, hotels, hospitals, etc., in case of emergency to ensure personnel safety .
Outdoor activities: such as camping, mountaineering, etc., provide lighting and emergency lighting .
In terms of working principle, the emergency bulb lamp combines the general lighting function and the power failure emergency lighting function. When the power grid fails, the lights automatically switch to emergency mode, using the built-in battery to provide lighting. Once powered up, it recharges and returns to normal lighting. This design ensures that lighting is provided immediately in the event of a power outage and automatically switches back to normal mode when power is restored
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