West and Central African Iron Ore: A Lesson in the Contestability of the Iron Ore Market
AbstractThe paper briefly sets out factors behind Chinese demand for iron ore imports and the main features of China's medium term resources consumption growth path. It then outlines the potential of major iron ore export countries to meet China's medium term iron ore import demands. The focus of the paper in on the potential of iron ore supplies from west and central Africa to enter the export market over the short and medium terms. To assess this, three export capacity scenarios (low, medium and high risk) are constructed for 17 iron ore mines (over 27 production expansion phases) in west and central Africa. The result suggest the development of west and central African iron ore has the potential to create significant downward pressure on the price of iron ore exports over the short to medium term. The impact of the excess export capacity on iron ore price is estimated and it suggests that there would be significant knock-off effects for iron ore-centric economies such as Australia and Brazil.
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Bibliographic InfoPaper provided by Crawford School of Public Policy, The Australian National University in its series Crawford School Research Papers with number 1202.
Length: 29 pages
Date of creation: May 2012
Date of revision:
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More information through EDIRC
iron ore; export; economy; import;
Other versions of this item:
- Luke Hurst, 2012. "West and Central African Iron Ore : A Lesson in the Contestability of the Iron Ore Market," Trade Working Papers 23292, East Asian Bureau of Economic Research.
- Luke Hurst, 2012. "West and Central African Iron Ore : A Lesson in the Contestability of the Iron Ore Market," EABER Working Papers 23292, East Asian Bureau of Economic Research.
- L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
- Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade
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