China Steel Stock Mining Association denied entry restrictions in Australia – Sp
In the Chinese steel mills and mines in Australia Iron ore Price negotiations into a "stalemate," the occasion of the recent restrictions on foreign media's rampant speculation the Chinese immigrants in Australia mining stock speculation, and that the talks could evolve into a Business And diplomatic disputes.
This, the Chinese Iron and steel industry Association vice president Luo Bingsheng expressly denied yesterday. Insiders pointed out that China's iron ore market may occur during long-term agreements and spot ore prices, "inversion" phenomenon. Restrictions on imports of non-existent
According to foreign reports, in recent weeks, the Chinese government delayed shipments to the groups of spot market imports of approval issued by the Australian mining BHP Billiton, Rio Tinto is about 300,000 tons of iron ore in China, the Port Discharge, but can not be Transport Approval.
In the sixth Steel market And trade, international seminar, Luo said that this was completely untrue and there is no limit on the spot ore imports. First of all, now do not need a permit to import iron ore; Secondly, the Chinese government despite record imports of iron ore contract system implemented, but not as long as the flow of iron ore out of the national order of small steel mills, and the submissions are complete, you can complete record.
He said China's steel industry on the most basic requirement of international mining companies are honest. If the mines on the one hand stressed that due to force majeure or resources in short supply, can not guarantee long-term iron ore supply agreement, resulting in a substantial decline in the rate performance of the contract, even down to less than 90%; the other hand, has publicly declared a surplus of iron ore delivery spot market, it is "inappropriate" and "prestige"; "We think this practice is in fact a long-term agreement to supply iron ore buckle down for the spot market."
Spot spread, or reverse a long association
CISA consultant Wu Xichun that long-term agreement under the FOB mine in Brazil rose 65% -71%, the second half of the spot market price drop may occur after long-term agreements and spot prices flat or "Upside Down", "now should draw attention to the excessive accumulation of the import trade is not mine. "
U.S. World Steel Dynamics (WSD) Partner Manager Marcos (PeterMarcus), also said that China's crude steel production growth will slow down the demand growth for iron ore in the coming months may be stagnant or falling Chinese iron ore prices will result in summer decline. "If this is the case in 2009, international iron ore prices will fall 20 percent public."
Negotiations to enter Australia, "dead end"?
Present, both China and Australia iron ore negotiations are still around the ocean freight compensation, "good quality and inexpensive, inferior inferior price" and focus on issues inextricably play. The industry is concerned, the two sides of the hard-line stance may make iron ore negotiations entered a "dead end."
It is understood that Rio Tinto in no way prepared to make concessions, not only requires 71% increase according to rising ocean freight, but also ask for compensation. According to the joint investigation of metal mesh, a quarter of Australia, Brazil, mine have not completed the contract amount, CVRD plans to export the same period last year, a decrease compared to 500-600 million tons; market rumors, if the negotiations to April 1 is still not the end, the Australian mining may suspend the shipments.
If so, then the maintenance of iron ore price negotiations for several years this system will collapse into a pure iron ore market may be the spot market.
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