Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  BHP Group    BHP   AU000000BHP4


End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 01/21
41.2 AUD   -0.10%
01:16aNEWS HIGHLIGHTS : Top Company News of the Day
01/20NEWS HIGHLIGHTS : Top Company News of the Day
01/20BHP maintains FY iron ore, thermal coal forecasts despite bushfire impact
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

China's 2019 iron ore imports rise to second-highest ever

share with twitter share with LinkedIn share with facebook
share via e-mail
01/14/2020 | 04:01am EST
A man works on transporting iron ore on a truck at Ganyu port in Lianyungang

China's iron ore imports rose 0.47% in 2019 to hover just below their all-time annual peak, fueled by strong demand at steel mills and a second-half recovery in shipments from big miners after disruptions earlier in the year.

The world's top steel producer brought in 1.069 billion tonnes of iron ore in 2019, rising from 1.064 billion tonnes a year earlier, data from the General Administration of Customs showed on Tuesday. The record remains 2017's 1.075 billion tonnes.

In December, purchases of the steelmaking ingredient surged 11.8% from a month earlier to 101.3 million tonnes, the data showed - the highest monthly import level in 27 months.

(GRAPHIC: China iron ore imports - https://fingfx.thomsonreuters.com/gfx/ce/7/8057/8039/ChinaIronOreImportsthrough2019.png)

The jump in iron ore imports came despite shipments from big miners being cut in the first half of 2019, when a tailings dam collapsed at a Brazilian mine while a tropical cyclone hit miners in west Australia.

"Purchases from non-mainstream suppliers increased amid soaring iron ore prices," said Wu Shiping, analyst with Tianfeng Futures, noting smaller mines in Brazil and Australia and countries including South Africa and India increased shipments.

Prices for benchmark iron ore futures on the Dalian Commodity Exchange soared almost 140% in 2019, squeezing profit margins at mills across China that were already hurt by slowing economic growth and a bruising trade war with the United States.

(GRAPHIC: China's iron ore imports from mainstream suppliers and non-mainstream ones - https://fingfx.thomsonreuters.com/gfx/mkt/13/961/958/Annotation%202020-01-14%20115034.png)


Beijing's move to beef up stimulus projects to avoid a sharper economic slowdown led to robust demand from a resilient property market and the infrastructure sector, helping to boost iron ore imports.

"Many construction activities will even last till the Lunar New Year eve," Tianfeng's Wu said, referring to the traditional week-long holiday season that is set to bring a broad industry slowdown from Jan. 24 this year.

Utilization rates at 247 mills across China stood at 77.6% last week, data tracked by Mysteel consultancy showed.

With Brazil's Vale SA resuming operations at some mines and other big miners increasing production, analysts and market participants expect a rise in overall iron ore supply this year.

China's steel product exports recovered from November to 4.68 million tonnes, but were still well below 5.56 million tonnes in the same period last year.

Full-year exports came in at 64.29 million tonnes, down 7.3% from a year earlier.

Steel exports have cooled since the second half of 2019, hit by Beijing's efforts to cut overcapacity, along with slower global demand and trade frictions.

Fitch Ratings expects a moderate recovery in global steel demand in 2020.

(GRAPHIC: China's steel products exports - https://fingfx.thomsonreuters.com/gfx/mkt/13/963/960/Annotation%202020-01-14%20121302.png)

(Reporting by Min Zhang and Tom Daly; Editing by Kenneth Maxwell and Richard Pullin)

By Min Zhang and Tom Daly

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -0.10% 41.2 End-of-day quote.5.96%
DOW JONES AFRICA TITANS 50 INDEX 0.03% 538.6 Delayed Quote.0.45%
DOW JONES SOUTH AFRICA(ZAR) -1.66% 1809.29 Delayed Quote.1.83%
EURO / BRAZILIAN REAL (EUR/BRL) 0.05% 4.6488 Delayed Quote.2.53%
FASTLY, INC. 1.37% 24.41 Delayed Quote.21.62%
GOLD -0.27% 1557.038 Delayed Quote.2.62%
HUAZHU GROUP LIMITED 1.52% 39.29 Delayed Quote.-1.95%
RIO TINTO GROUP 0.24% 106.45 End-of-day quote.5.77%
RIO TINTO PLC -2.34% 4572 Delayed Quote.3.86%
S&P AFRICA 40 INDEX -0.59% 167.75 Delayed Quote.-2.51%
SILVER -0.24% 18.01 Delayed Quote.1.12%
SILVER - CAPE VERDE ESCUDO 0.00%End-of-day quote.0.00%
US DOLLAR / BRAZILIAN REAL (USD/BRL) 0.04% 4.1896 Delayed Quote.3.63%
VALE S.A. 0.63% 57.36 End-of-day quote.6.89%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on BHP GROUP
01:16aNEWS HIGHLIGHTS : Top Company News of the Day
01/20NEWS HIGHLIGHTS : Top Company News of the Day
01/20BHP maintains FY iron ore, thermal coal forecasts despite bushfire impact
01/20BHP : Operational Review for the Half Year Ended 31 December 2019
01/20BHP's Iron Ore Output Lifts On Year, Guidance Unchanged
01/20BHP : Operational Review for the Year Ended 31 December 2019
01/17EUROPE : European shares at record high as cross-Atlantic trade tensions abate
01/16EXXON MOBIL : Morgan Stanley rates WPL as Equal-weight
01/15BHP : Gemma kick starts her career with Mastery
01/15Woodside Petroleum 4Q Production Revenue Rises
More news
Financials (USD)
Sales 2020 44 863 M
EBIT 2020 17 950 M
Net income 2020 10 281 M
Debt 2020 9 949 M
Yield 2020 5,23%
P/E ratio 2020 13,7x
P/E ratio 2021 15,8x
EV / Sales2020 3,21x
EV / Sales2021 3,32x
Capitalization 134 B
Duration : Period :
BHP Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BHP GROUP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 17
Average target price 25,94  $
Last Close Price 28,36  $
Spread / Highest target 2,42%
Spread / Average Target -8,53%
Spread / Lowest Target -28,3%
EPS Revisions
Mike Henry Chief Executive Officer
John Kenneth Norman MacKenzie Chairman
Daniel Malchuk President-Americas Minerals Operations
Geraldine Ann Slattery President-Operations Petroleum
Peter Beaven Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
BHP GROUP5.96%133 964
RIO TINTO PLC3.86%102 788
GRUPO MÉXICO, S.A.B. DE C.V.11.88%24 189
SOUTH328.15%9 746