Some Chinese steel enterprises are forced to accept 96% iron ore prices – steel, iron ore talks – Hardware Industry
Last weekend, some large state-owned steel enterprises insiders confirmed to this reporter, although not formally signed the agreement, but some mills had in fact signed by Japan and South Korea have accepted the quarterly price of iron ore to the three major ore procurement. 2010 iron ore negotiations may end in this manner.
According to reports, in accordance with Japan and South Korea signed with the Brazilian Vale quarter of the price per ton FOB mine in Brazil is about 110 U.S. dollars, higher than the 2009 price of 96.4% senior Society. At present, domestic steel prices have been using this pricing procurement.
To Rio Tinto and BHP Billiton of Australia, represented by Mine , The desire to enter into, including the CIF includes freight, but the stakeholders did not disclose the current price of Australian ore specific.
Person said that if 96.4% of the gain calculation, China Steel Industry will increase the annual cost to about 900 billion, while in 2009 China's steel industry-wide profits of only 69 billion yuan, the effects of large self-evident.
As of last weekend, the grade in 63.5% of the Indian spot ore outside the disc offer has Mogao to 190 U.S. dollars / ton.
British "Metal Bulletin" (MetalBulletin) Director CameronHunt forecast iron ore price index, CIF iron ore this year, is expected to more than 200 U.S. dollars / ton. However, not long bear the high cost of steel, ore price correction in years. Maanshan Iron & Steel shares
But Lee, Marketing Manager, said construction of the reporter, even if based on an average 175 U.S. dollars / ton in the spot prices of several steel mill still can not raise profits.
Steel by cost-push, repeated price increases, the downstream industry is already complaining.
"Our advanced thermal volume has reached 4950 yuan / ton, the price is too high, may not be a smooth shot." Steel trade, a person in Shanghai, told reporters that steel straight pull up a few months, almost no a decent correction, the current conduction to the lower reaches has been very difficult.
The sources, the current part Car Parts manufacturers have been at break-even point, the customer response, if unrestrained steel prices rise again, businesses will be forced to cut production, early into the production of off-season. Lee also revealed that building, signs to adjust the automotive industry has emerged, in May orders for automobile plate pressure.
According to data released by the Ministry of Industry, 1,2 months of this year the steel industry average profit margin of 3%. According to report, a quarter of the major domestic steel mills are still using relatively low-cost ore stocks before, but up to the maintenance of inventory to June. In this regard, Metallurgy Industry Planning Research Institute, said Lee start the second half, with the advent of high-value ore comprehensive, steel industry profits will face a more serious crisis. It will certainly stimulate the domestic steel industry to speed up large-scale mergers and acquisitions.
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