The negotiations for the new year are not yet approaching, and the iron ore giants invariably resorted to a series of “little tricks.†Following the Vale’s recent unilateral announcement of an increase in iron ore supply prices for Asian customers, Australia’s BHP Billiton Ltd. has signed a deal for the first time. Flexible iron ore long list. This completely different supply contract from the previous annual pricing mechanism indicates that BHP Billiton will be away from the traditional iron ore base price system. At the same time, Rio Tinto also gave up on the wind and praised "hybrid" or spot contracts.
China Industry News reporter learned that Brazil’s Vale Mining Company has unilaterally announced the price increase has been a boycott of Chinese steel companies.
China Iron and Steel Industry Association recently organized domestic steel companies to hold an emergency meeting to discuss ways to replace Brazilian iron ore, and studied and confirmed a plan to replace Brazilian iron ore with domestic iron ore and to boycott it through production cuts and export reductions. . The domestic private steel enterprises are even planning to hold a group of iron ore joint investment companies and intend to control the initiative.
According to Shan Shanghua, secretary-general of the China Iron and Steel Association, because Chinese steel companies refused to agree to Vale’s wanton price increase activities, Vale has stopped loading Chinese miners, causing a large number of Chinese cargo ships to be stranded in Brazilian ports, causing Chinese steel companies to incur A huge economic loss.
No price increase condition
On September 9th, Brazil’s Vale Mining Company issued a statement to the public: “Asian customers’ iron ore prices (depending on the type of iron ore) are 11% to 11.5% lower than European customers. The company is negotiating with Asian customers. He wants to increase the long-term contract price of Chinese iron ore by 20% and try to level the gap."
In response, the China Iron and Steel Association published on its website a letter on the unilateral breach of contract by Brazil's VALE company and suddenly raised the price of iron ore. It explicitly opposed the price increase and called on domestic steel companies to act together to resist Vale alone. Aspect of breach of contract.
The China Steel Association stated in a statement: “At present, the 2008 annual iron ore long-term contract negotiations have ended and the negotiations for the new year have not yet begun. The Brazilian company Vale asked for price increases at this time, it is not a good faith practice, but also has dozens of The annual history of traditional iron ore price system negation."
Luo Bingsheng, executive vice president of China Iron and Steel Association, said that the current domestic iron ore stocks increased substantially to meet the two-month use. The Brazilian iron ore long-term contract price has been at the same level as the Indian spot price, domestic iron ore prices Falling, in this case, Vale's price increase is very unwise.
Shan Shanghua also analyzed that according to the current development trend of the domestic steel market, it does not have the conditions to support the rise in iron ore prices.
Due to the rising cost of raw materials, the cost of steel enterprises rose by 60% from January to July, and steel prices have been declining since June. The profitability of domestic steel mills under dual pressure has been compressed, the loss surface has expanded, and a large number of steel mills have stopped production. Reduce production. The data shows that since July, the production of steel and pig iron has decreased in a consecutive chain, which is rare in many years. Affected by this, the spot price of iron ore fell. At present, the domestic iron ore price has dropped by 200-250 yuan per ton from the high level in June.
Chinese Steel Industry Fights Against Attacks
The China Steel Association’s position has been unanimously approved by the Chinese steel industry. Industry insiders have stated that it is possible to use less or no Brazilian minerals.
Li Xinchuang, executive vice president of the China Metallurgical Industry Planning Institute, said that from a technical point of view, domestic mines can be used to replace Brazilian mines through ore dressing, but domestic mining is not yet fast enough. It is reported that due to the better quality of foreign minerals, especially the high quality of Brazilian minerals, many steel mills use the method of mixed sintering of internal and external minerals.
Wang Yifang, chairman of Hebei Iron and Steel Group, said in an interview with the China Industry News reporter that the group has actively participated in the operation of the China Mine for the use of domestic mines for the Brazilian mine.
More than 10 major private steel companies such as Shagang and Fosun have decided to form an iron ore joint investment company to deal with iron ore negotiations in the new year. It is reported that the company's registered size is tentatively set to be 500 million to 1 billion yuan, Shagang maintains a relatively controlling position, and the remaining private steel enterprises have entered by way of actual participation. The company plans to invest mainly in domestic and international iron ore resources, and it is likely to participate in the new year's iron ore price negotiations for the first time.
China Industry News reporter learned that Brazil’s Vale Mining Company has unilaterally announced the price increase has been a boycott of Chinese steel companies.
China Iron and Steel Industry Association recently organized domestic steel companies to hold an emergency meeting to discuss ways to replace Brazilian iron ore, and studied and confirmed a plan to replace Brazilian iron ore with domestic iron ore and to boycott it through production cuts and export reductions. . The domestic private steel enterprises are even planning to hold a group of iron ore joint investment companies and intend to control the initiative.
According to Shan Shanghua, secretary-general of the China Iron and Steel Association, because Chinese steel companies refused to agree to Vale’s wanton price increase activities, Vale has stopped loading Chinese miners, causing a large number of Chinese cargo ships to be stranded in Brazilian ports, causing Chinese steel companies to incur A huge economic loss.
No price increase condition
On September 9th, Brazil’s Vale Mining Company issued a statement to the public: “Asian customers’ iron ore prices (depending on the type of iron ore) are 11% to 11.5% lower than European customers. The company is negotiating with Asian customers. He wants to increase the long-term contract price of Chinese iron ore by 20% and try to level the gap."
In response, the China Iron and Steel Association published on its website a letter on the unilateral breach of contract by Brazil's VALE company and suddenly raised the price of iron ore. It explicitly opposed the price increase and called on domestic steel companies to act together to resist Vale alone. Aspect of breach of contract.
The China Steel Association stated in a statement: “At present, the 2008 annual iron ore long-term contract negotiations have ended and the negotiations for the new year have not yet begun. The Brazilian company Vale asked for price increases at this time, it is not a good faith practice, but also has dozens of The annual history of traditional iron ore price system negation."
Luo Bingsheng, executive vice president of China Iron and Steel Association, said that the current domestic iron ore stocks increased substantially to meet the two-month use. The Brazilian iron ore long-term contract price has been at the same level as the Indian spot price, domestic iron ore prices Falling, in this case, Vale's price increase is very unwise.
Shan Shanghua also analyzed that according to the current development trend of the domestic steel market, it does not have the conditions to support the rise in iron ore prices.
Due to the rising cost of raw materials, the cost of steel enterprises rose by 60% from January to July, and steel prices have been declining since June. The profitability of domestic steel mills under dual pressure has been compressed, the loss surface has expanded, and a large number of steel mills have stopped production. Reduce production. The data shows that since July, the production of steel and pig iron has decreased in a consecutive chain, which is rare in many years. Affected by this, the spot price of iron ore fell. At present, the domestic iron ore price has dropped by 200-250 yuan per ton from the high level in June.
Chinese Steel Industry Fights Against Attacks
The China Steel Association’s position has been unanimously approved by the Chinese steel industry. Industry insiders have stated that it is possible to use less or no Brazilian minerals.
Li Xinchuang, executive vice president of the China Metallurgical Industry Planning Institute, said that from a technical point of view, domestic mines can be used to replace Brazilian mines through ore dressing, but domestic mining is not yet fast enough. It is reported that due to the better quality of foreign minerals, especially the high quality of Brazilian minerals, many steel mills use the method of mixed sintering of internal and external minerals.
Wang Yifang, chairman of Hebei Iron and Steel Group, said in an interview with the China Industry News reporter that the group has actively participated in the operation of the China Mine for the use of domestic mines for the Brazilian mine.
More than 10 major private steel companies such as Shagang and Fosun have decided to form an iron ore joint investment company to deal with iron ore negotiations in the new year. It is reported that the company's registered size is tentatively set to be 500 million to 1 billion yuan, Shagang maintains a relatively controlling position, and the remaining private steel enterprises have entered by way of actual participation. The company plans to invest mainly in domestic and international iron ore resources, and it is likely to participate in the new year's iron ore price negotiations for the first time.
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