Yao insists that the iron ore price rise could support the Ministry of Commerce
March 16 morning news, the Ministry of Commerce spokesman Yao Jian said today that the Ministry of Commerce that China's interests should be reflected in the iron ore negotiations, the agreement calls for preserving the long-term iron ore price formation mechanism, and it will necessary to provide means to support trade.
Yao Jian said that China is an important origin of steel products, steel enterprises in China is the world's largest consumer of iron ore, an important consumer side in the pricing mechanism should play an important role in China's interest should be reflected in the iron ore negotiations .
He also said that the Ministry of Commerce calls for preserving the iron ore pricing mechanism for long-term agreement. Hope mine supply-side and national iron and steel enterprises to long-term agreement to jointly safeguard mechanisms to avoid sharp fluctuations in iron ore prices.
"Ministry of Commerce will actively and steel enterprises to the Iron and Steel Institute to provide support in the negotiations, including the necessary means to support the trade." Yao Jian said.
However, he did not disclose the specific trade measures, "as Japan and South Korea did not talk about iron ore prices set, so is not entirely clear that specific policies, but have a policy to reserve."
Since the negotiations started in 2010 after iron ore, BHP Billiton, Rio Tinto and CVRD will offer three miners soared, from 20% -30% to 50%, to 80% -90%, far beyond the Chinese steel enterprises their bottom line, both sides of the expected difference is also growing. Previously, domestic head of a large steel mill has made it clear that more than 40% iron ore price rise enterprises are loss. March 15, said Australian Trade Minister position, I hope the Chinese government will not intervene in iron ore price negotiations.
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