Supply and demand situation of China mineral products in 2017

In 2017, the mining market showed good signs.In China, the decline of geological exploration investment narrowed, the profit of mining companies rebounded sharply, the price of important mineral products in the world stabilized and picked up.The supply of mineral products is growing in China, and the demand of mineral products continues to increase.The primary energy production increased 3.6% year on year to 3.59 billion tons of standard coal equivalent.The primary energy consumption increased 2.9% to 4.49 billion tons with an energy self-sufficiency rate of 80.0%.The coal production was 3.52 billion tons and the import was over 270 million tons.The crude oil production was 190 million tons and the import was 420 million tons, surpassing the United States for the first time to become the largest importer in the world.The iron ore production was 1.23 billion tons and import was 1.07 billion tons.The gold production was 426.1 tons and the consumption was 1 089.0 tons.The global oil and gas industry has bottomed out, and the structural reform on the supply side has achieved remarkable results.At the same time, there are some problems such as insufficient confidence of private investment, excessive dependence on the international market and high import concentration of some mineral products.In the coming period, as the global economy continues to improve and the domestic structural reform on the supply side continues to deepen, the demand for mineral products will show a slow growth trend.The price of mineral products will rise slightly, and the profit of mining companies will further improve.This will promote the new round of mergers and acquisitions and asset reconfiguration of mining companies.