BHP Billiton Ltd. (BHP) said Tuesday that demand for coking coal
traded overseas is forecast to grow at a 4.9% compounded annual growth
rate between 2011 and 2025 with China and India contributing to the bulk
of that growth.
This compares with a 2.4% compounded annual
growth rate between 2000 and 2011 to 241 million metric tons of coking
coal traded overseas in 2011. During that period, India and China became
the world's largest importers of the steelmaking raw ingredient,
accounting for about a quarter of the global sea-borne coking coal
market in 2011, according to a BHP presentation published on its
website.
Global
demand for coking coal is forecast to rise due to the rapid pace of
urbanization and industrialization in emerging markets where steel
production continues to grow at a healthy pace.
China, the world's
largest steel producer, is forecast to account for the bulk of the
global steel production growth between 2011 and 2025, since many of
China's large Chinese provinces are still in the early stages of the
steel intensity curve, Binns said.
Source: Fox Business
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