BHP Billiton: still in negotiations with Chinese steel mills – BHP Billiton, ste
Predicts global steel demand will double in the next 15 years, and in 2010 the economy of developed countries will follow China's economic growth has resumed.
BHP Billiton president of marketing Shi Tao Mi (TomSchutte) Wednesday said the process of China's economic recovery was stronger than previously expected, and almost no sign of growth momentum to a halt. BHP Billiton China is the most important customers, in its 2008-2009 year of 50.2 billion U.S. dollars accounted for 20% of the sales ratio.
BHP Billiton said it is facing some difficulties, but the company's monthly output is still the world's iron and steel from 70 million to 80 million tons rise to 104 million tons. BHP Billiton, the highest export products include Iron ore And coal. Mi Shi Tao, said: "In our current analysis of data known, China's global share of steel production has increased from 37% of the nearly 48%, which is very substantial growth."
After BHP Billiton announced in July, one third of customers are turning to the spot market associated with the new pricing system, breaking the 40 years the tradition of annual price negotiations, the news of the conservative iron ore and a big shock in the steel industry. Mi Shi Tao, said iron ore and steel industry in the more participants are added to the new pricing system to go, this system has become "our iron ore sales in the growing part."
Shi Tao Mi said: "Many of our customers and other market participants are from more short-term interests of the pricing system to see." He said: "The new pricing mechanism in the important thing is that price negotiations with the current system compared to the mechanism of communication with customers more smoothly. If all the customers into the new pricing system, I will be very happy. '
Mi Shi Tao, said BHP Billiton is concerned about the Rio Tinto (RioTintoPLC) Stern Hu, head of China's iron ore (SternHu) case, but said the company's business operations in China, the impact has not been the case. Earlier, Chinese authorities arrested Stern Hu, including Rio Tinto, including four executives who were accused of corruption allegations, Chinese steel producers to obtain state secrets. (Source: Sina Finance)
BHP Billiton says Chinese steel mills are still on the part of the iron ore contract negotiations
Australian mining giant BHP Billiton (BHPBilliton) marketing president TomSchutte Wednesday said the company is still with the Chinese steel mills on a number of the current year benchmark iron ore contract negotiations, and will open in October next year the contract negotiations.
He added that the global financial crisis, BHP Billiton to make more customers to short-term pricing agreements.
BHP Billiton copper concentrate imports in 2009 China is expected to increase 13% in 2009 Australia's coking coal exports to China will increase to 3,000 million tons, adding that some of coking coal contracts in 2009 has grown from year to quarter bargain bargain.
BHP also pointed out that loan growth and inventory adjustments and other factors pose a risk to China's growth momentum.
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