Price not affect the negotiations in Europe only a thin paid off, and the Chines
Responsible for coordinating this year, China's iron ore talks Steel Industry Association ("CISA") one-way the Secretary-General of China, these days are busy, see CVRD and Australia's third-largest mining enterprises FMG, "negotiations Cooperation Matters ", which is considered to be in the steel industry to continue in the annual iron ore negotiations Association in isolation," the two extension "strategy move.
Adhering to a week later, yesterday, the world's largest steel mill ArcelorMittal, the ultimate acceptance of the Japanese and Korean companies and the world's largest mining enterprises in Brazil Vale had negotiated in 2009 iron ore long-term agreement price: Powder ore price will be based on fiscal year 2008, down 28.2%, decreased 44.47% lump ore, pellets 48.3% price reduction.
As the "European price" for the emergence of three major Chinese mining enterprises with annual iron ore negotiations, really into the "fighting alone" stage.
Overseas mining enterprises now seems in no hurry to line with the Chinese side. BHP Billiton recently still spare no efforts to implement "the spot index price," Rio Tinto is in the spot market to China frequently Sell Iron ore, CVRD is only expressed some faith, hope and China signed a long association contract. In accordance with previous practice, to June 30 if both supply and demand have not long-term agreement on the annual iron ore price agreement, one party the right to terminate the contract.
However, this practice this year seems no longer relevant. "June 30 is the traditional concept of the negotiations to an end, since last year, the traditional iron ore pricing negotiations, in fact already been broken." Shan Shang Hua told reporters on the CBN, the beginning of this year the Chinese side proposed to set up iron ore Stone talks "China model." In this mode, the Chinese side will talk with a number of mining enterprises, even including such emerging FMG mining enterprises, but do not necessarily have the same price.
A high level of domestic large steel companies, told reporters revealed that this year China is likely to adopt a "quantity pricing" approach, with different mining enterprises were on long-term contracts and prices, and reduce the proportion of Australian ore about 10% of procurement .
Last year, China imported 444 million tons of iron ore, the ore from Australia, occupying the first, up to 40%, only 20.5% from Brazil, while FMG's iron ore supply current to only 40 million tons. China is the world's largest iron ore importer, and the general oversupply of iron ore, which is currently negotiating clout of Steel Association. China Steel Association, according to data from the first 4 months of this year, the global excess capacity up to 200 million tons of iron ore, while the increment of iron ore imports have mainly come from China.
However, China's steel production and iron ore imports disorganized, are dragging the negotiations the Chinese side "legs." China Steel Association, according to the latest statistics, in early June, the national average daily crude steel output reached 1.498 million tons, higher than the 1.4854 million tons in late May, early June average daily output of crude steel equivalent to an annual output of 547 million tons, higher than the output of 500 million tons of crude steel last year, and far more than this year under the agreement in the steel target 460 million tons of crude steel production..
This, one still Hua said that in the steel market prices stimulated the rapid resumption of small steel crude steel production capacity is the main reason for innovation, "in early June, crude steel and medium-sized steel enterprises production declined by 4%. "Shan Shang China that steel production in July after the sharp decline may be because the month is the steel selling climax 4,5, and 6,7-month rainy season and hot weather, external works to reduce the intensity or suspended .
In addition, imported iron ore spot fire also led to India's exports of medium-grade iron ore spot FOB prices, in the past month rose 10% to 12%, close to Japan's Nippon Steel and Rio Tinto reached 33% of the decline of long-term agreement price.
This, one is still China, said recently by the Commerce Department, China Steel Association, China Minmetals Chemical industry Import and export of iron ore Branch Chamber of Commerce (the "Chamber of Commerce Minmetals") and other joint coordination group set up iron ore, the source of the excess of imports of iron ore thorough investigation of "reselling" the traders outside the mine, once found violation will be suspended imports of qualification. Responsible for coordinating the traders Minmetals Chamber of Commerce will hold a board meeting this week, discuss the import of iron ore qualification standards and further implementation of amendments to the import of iron ore Proxy Regime.
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