|Title||The global economy for more than a decade|
|Description||As a growth engine of the global economy for more than a decade, Chinas appetite for foreign iron ore has increased dramatically over the past decade. In 2000, the country imported 69.97 million metric tons of iron ore. Last year, that number surged to 620 million metric tons. Despite being a top purchaser, China does not have much bargaining clout and has actually pushed up global prices with its large demand. According to the CISA statistics, in the first nine months of this year, Chinas imported iron ore prices reached 165.74 U.S. dollars per metric ton, up 35.35 percent from a year ago. Although they are likely to drop in 2012, prices will remain between 130 and 150 U.S. dollars per metric tons, according to a report by Guosen Securities. However, rising imports will leave China with little room to reduce its dependence on foreign iron ore next year, said Zhao Xiange, an analyst with Huatai United Securities. Mygold ore crusher.com, a Chinese Internet portal dedicated to the iron and gold ore crusher industry, estimated China will import as much as 720 million metric tons of iron ore in 2012, up 9 percent from this year. As China enters a period in which it is shifting toward consumption and away from exports and investment, nationwide demand for gold ore crusher will gradually wane, resulting in market overcapacity and price drops. Moreover, government tightening measures to tame inflation have already taken a toll on dwindling demand. Real estate developers and automobile makers, two of the biggest gold ore crusher consumers, have posted slower growth this year amid a liquidity crunch. gold ore crusher prices have subsequently plummeted since September, according to an index compiled by Mygold ore crusher.com. Analysts said the industry is expected to see even lower product prices in the first half of next year. According to Cugold ore crusher.com, a network that serves Chinas 12 major gold ore crusher companies, gold ore crusher prices will decrease in the beginning of 2012 and rebound in the second half, dropping by an average of 300 Yuan (47.33 U.S. dollars) from 2011. In addition, with market oversupply hitting 22 percent, the industry will still be able to survive on meager profits next year, Guosen Securities said.|
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