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[February 2009]
Himfr.com Analyses China's Mineral Resources Market
Himfr.com (Beijing, China), one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, has analysed China's Mineral resources market. This year, under a sharp economic downturn, the overall demand for major mineral products has been falling sharply, while production capacity remains at surplus levels.
Mineral products prices are mainly determined by supply and demand. When demand decreases and supply remains strong, the market price will go down, which put mining enterprises under severe pressure. In late October last year, domestic iron ore prices came down to 500 yuan per ton from 600 yuan per ton, and when compared to ore prices at their highest, the difference almost reached 1,000 yuan.
As mineral products prices continue to plunge, mining enterprises will experience more hardships in their operation. For energy related mining and excavation industries, such as coal and crude oil, the consumption will continue to grow.
Himfr's analyst forecasts that in 2009, China's coal, crude oil, iron ore and alumina production will increase rapidly.
Himfr.com is a promising e-commerce company and a leading vertical search engine company in China. It provides an efficient search engine platform connecting small and medium-sized buyers and suppliers around the world. Its product search engine database includes more than 10 million products and its community (Trade Post) has published more than 1.2 million buying leads.
Founded in 2005, Himfr.com focuses on two main products for global traders:
Product Search – Product Search is Himfr.com's flagship product and the leading B2B e-commerce search engine in China, serving small- and medium-sized enterprises in China and around the world.
Trade Post – A leading community for global suppliers, providing suppliers with millions of buying leads, bridging them with hundreds and thousands of potential buyers online.
ENDS