Decrease in imports of iron ore to China affects the entire industry

Shipments of iron ore from the world's largest export terminal, Port Hedland in Australia, were significantly lower than in previous months.

According to data released by the Port Authority of Hedland, shipments to China amounted to 29.8 million tons in September, while 32 million tons were recorded in August. In October, supplies are already experiencing a decline and are expected to fall to 23 million tons. The total volume in August amounted to 37.4 million tons and decreased to 36.3 million tons in September.

Iron ore prices are down 41 percent this year as iron ore giants such as BHP Billiton and Rio Tinto compete with each other even after the price of iron ore fell to a five-year low in 2009. It also boosted supply over demand amid sated economic growth in China, the world's largest importer of iron ore.

The price of the railroad fell to $ 80 per ton this year. This was a disaster for many iron ore miners. At the same time, the iron ore giants continue to grow and expand as they think they can profit even on this scale of iron ore prices. However, Glencore struck at its main competitor, BHP Billiton, saying it had no plans to continue expanding its iron ore development in Africa with BHP Billiton in order to control the impact on iron ore prices.