Arab Steel Summit
Arab Steel Summit
Arab Steel Summit

China’s real estate crisis may lead to iron ore dumping

Goldman Sachs predicted in a note to the clients that the crisis gripping the Chinese real estate sector will help turn the iron ore market into a significant surplus during the second half of the year and drive prices down sharply.

After the market posted a deficit of 56 million tons in the first half of the year, the bank expects a surplus of more than 67 million tonnes of the metal for the rest of the year, reflecting the sharp slowdown in steel demand outside China.

The bank lowered its 3-month iron ore target to $70 a tonne from $90 and its six-month iron ore target to $85 from $110 a tonne.

The issue is that the metal is closely linked to China’s early real estate activity, the bank said, adding that the sector generates nearly a third of China’s steel and crude demand.

According to “Bloomberg” data, iron ore in Singapore rose by about 4% during the trading on 26 July 2022, before trimming its gains to trade at $109.05 per tonne.



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About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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