Indian ore export tariffs imposed to finalize 15% of adverse Australia iron ore
Industry said the Australian ore price increase is an important reason for the spot price and long-term agreement price gap is too wide, while the spot price of lead ore from India, when India imposed tariffs in the post-ore prices, the differences between China and Australia inevitably further increase, while not the ultimate end of the year negotiations, which could lead to more variable
Government of India on May 30 decided to levy 15% iron ore export tariffs, the news will be announced in the coming days. Since India is China's third-largest iron ore source, it will have a greater impact on domestic steel companies, is not conducive to being in a stalemate in the Sino-Australian 2008 Iron ore talks .
Early beginning of this year, the Indian Ministry of Finance on the proposed levy on iron ore export duty of 15%. According to Indian media reports, on May 30 the Committee of Ministers of India held that the motion passed at the same time, the Committee of Ministers also decided to abolish export tariffs on steel. It is understood that the Indian steel prices rise faster this year, the Government of India has proposed to levy steel Export tax The proposal to allow more resources to remain in the country, and then stabilize steel prices, but this was opposed to the iron and steel enterprises. The two sides eventually compromised, the Indian steel companies to take measures to stabilize steel prices, and the State abolish export tariffs on steel.
Present, India's iron ore exports in accordance with a particular level of tax rate, 62% or more grade levels levy of 300 rupees / tonne (about 7 U.S. dollars), 62% of the grade levels the following collection of 50 rupees / tonne. Re-adjustment, the iron ore export tax will be unified by products based on FOB charge. "15% of the tariffs imposed on Chinese companies is very big impact." Iron ore expert Xu Xiangchun told reporters yesterday that "the current high-grade ore fob India is about 140 dollars per ton, imposed 15% tariff, equal to increased more than 20 U.S. dollars per ton, less than the original seven U.S. dollars have more than doubled. "
Data show that in 2007 India, 79 million tons of iron ore exports to China, ranking after Australia and Brazil is China's third-largest iron ore source countries. China and India rely mainly on the spot market iron ore trade to achieve, imposed tariffs of 15%, due to the market do not have enough alternative resources, the majority of Chinese iron and steel enterprises have to bear the tax costs, the cost of imported ore in India will be further enhanced.
"My Iron and Steel," said Wang Jianhua, deputy director of research, tariffs in India at this time moves very beneficial is in a stalemate in the Sino-Australian iron ore negotiations in 2008.
Early February of this year, China's iron and steel enterprises with CVRD in Brazil reached a year Iron ore price Up 65% of the agreement, but Australia's mining enterprises set a higher asking price request was refused the Chinese side, the two sides have failed to reach agreement. In yesterday's China International Steel Congress, Zhang Xiaogang, president of China Iron and Steel Industry Association said Chinese steelmakers and iron ore mining companies in Australia may soon end the negotiations.
Wang Jianhua, said: "O ore price increase is an important reason is that the spot price and long-term agreement price gap is too wide, while the spot price is a leading Indian ore, once the Indian ore prices after the tariffs, China and Australia necessary to further increase the differences between, but not the final end of the year negotiations, which could lead to more variables. "
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