Iron ore negotiations in name only abandoned the unified leadership of the China
2010 iron ore negotiations, although not yet to the deadline, but the China Steel Association has given up the unified leadership, the default steel prices and Mine Their own pricing.
Yesterday, China Steel Industry Association (hereinafter referred to as "CISA"), the second time this year, industry news conference that the iron and steel enterprises for their production needs, you can and three iron ore mines to negotiations between the price of imports. Analysts pointed out that the deadline for remaining away from the talks two months the situation, this indicates that this year's iron ore negotiations in name only.
3 end of the China Steel Association has made the last time counter, domestic steel prices in the understanding of iron ore stocks at that time to support two months later, called the domestic steel enterprises imported iron ore in the next two months are no longer to resist the monopoly the three mines. But only a month, some domestic steel enterprises have been running out of patience, and three mines in private contacts or signed purchase agreement. In this regard, China Steel Association had allowed the Chinese steel enterprises signed with the three mines.
Which had been insisting the global iron ore supply exceeds demand in China Steel Association yesterday also changed to recognize a shortage. China Steel Association Vice Chairman Luo pointed out that last year, in addition to China to keep rising, the rest of the world demand for iron ore importer showed a declining trend. This year, significant changes in market conditions, a quarter of China's crude steel production increased by only 24.52%, rest of the world crude steel production grew by 33.03%, which increased 50.7% in Japan, the European Union, up 37%, 29.1% growth in Korea, China Taiwan region to increase 51.5%. In other words, the global iron ore steel caused substantial increases in short supply situation.
Global iron ore supply shortage and the end of the three mines in the monopoly of the three mines made no concessions in the negotiations. "It's iron ore talks have not negotiated, but the way the three mines with an ultimatum issued to the prices of steel prices to inform, but also the deadline for response of steel enterprises, do not accept the cease Take the threat of supply." Luo somewhat excitedly. He further pointed out that the three mines are now the Financial Capital controls, its features do everything possible to pursue the current maximum profit, regardless of the long-term interests of business development. Simply abandoned the long-standing iron ore and iron ore supply and demand fundamental principles of win-win negotiations. "Originally miners, and steel enterprises, a symbiotic relationship, and now the two sides have maintained their decorum was."
Iron ore supply for the current situation of being enslaved, Luo that to Vigorously Support domestic mine production, reduce dependence on imported iron ore. It is reported that China's dependence on foreign iron ore imports iron and steel enterprises is too high, actually reached 62.3% last year, compared with an increase of 3.07 percentage points over the previous year. Second, encourage Chinese enterprises to invest overseas mining operation. China's current control of overseas iron ore resource of about 9% of the developed steel enterprises is about 50%. The third is to regulate trade in China's imports of iron ore. Finally, I hope to increase imports of iron ore as a strategic issue to the national level to study and solve.
However, Luo said the talks did not break, when the representatives of China, Baosteel is negotiating team with the three major iron ore mines which supply agreements, the supply of steel enterprises final settlement price of Xuan price of the implementation of the agreement. Earlier, Vale has been identified with Japan and South Korea steel prices in April to July the price of iron ore, or nearly doubled. Lange steel analyst Zhang Lin believes that pricing is only a transitional quarter, the final implementation of the three major ore prices will inevitably higher price index. Therefore, China's steel industry should be prepared as soon as possible, such as the introduction of financial professionals to develop a worldwide recognized index of Chinese companies a fair system. This can be considered ready to fight a war.
Prices of iron ore and other production costs have directly pushed up steel prices. Entered since 2010, steel prices showed a monthly rise. As of last week, the domestic price index 126.4 points, compared with the beginning by 20 points, or 18.8%. On the other hand, while steel prices rose, but profits of steel companies in China are still below the national industrial average. The first quarter of this year, 77 large and medium steel companies overall profitability turnaround, but the medium-sized enterprises Sell Profit margin of only 3.25%, still in the low-profit status.
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