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Want to negotiate a fair and reasonable price of iron ore
Browse3590   Published Date2009/8/22
The letter yesterday in the Department of Engineering at a news conference, spokesman for the Department of Public letter to Zhu Hongren, said the letter, according to the Department of Public information currently available, iron ore negotiations are still continuing.

     Public letter to the Ministry of Information spokesman Zhu Hong Ren said yesterday that the 2009 iron ore negotiations were still in progress. According to report, along with rising steel prices, the market generally bullish market outlook for iron ore, imported iron ore spot prices have continued to rise and again over a long co-ore prices.

     Even though the negotiations into deadlock, but the market has to respond. Has been since June, the price of imported iron ore spot showing a rising trend to accelerate. Joint metal mesh data, June 1 India 63% of Tianjin Port powder ore price 590 yuan / ton, July 21 the price has reached 700 yuan / ton. According spot of sea freight, the new agreement is currently Brazil's meal price of about CIF92 U.S. dollars / ton, Australia, the new agreement powder ore price of about CIF76 U.S. dollars / ton, which makes mine the value of a long association re-appear, but also to the Steel Association into the negotiations more difficult situation.

     Procurement efforts to increase domestic steel

     With spot prices continue to rise, the price advantage of domestic Tie Jingfen has been basically non-existent, while Rio Tinto's recent spy case makes the import of mineral market confusion, the northern region mills started to re-bias in domestic Tie Jingfen. According to the joint metals analyst with Li Jin, at present most of the steel for domestic Tie Jingfen procurement is still relatively positive, willing to adopt, some steel mills and even for next more than two months of inventory.

     Other hand, the mining enterprise outside China has basically completed the negotiations in other markets. According to report, Vale do Rio Doce has been with Italy's largest steelmaker Riva, and Germany's largest company of ThyssenKrupp Steel prices iron ore price agreement reached in 2008, based on the powder ore prices fell 28.2% , pellet prices fell 48.3%.

     "China price" or difficult to achieve

     This is before the CVRD and the world's major steel mills to determine the rate of decline in line. In addition, CVRD with the Russian Severstal steel mill steel mills and Turkey reached a price agreement, respectively.

     The external market have reached an agreement, China's negotiations appeared to be very lonely figure. China Steel Association in the media yesterday, said that the current negotiations on China Steel Association on May 31 attitude to a statement issued shall prevail, namely, iron and steel enterprises in China can not accept the Japanese companies, the starting price, no follow-up. Reporter yesterday called the three major ore prices, declined to comment on the negotiations, even in China's iron ore trade situation also had no comment. The negotiating parties have also plunged into an unprecedented silence.

     Analysts said that although China Steel Association remains firmly opposed to Japan and Australia starting price, but leave room for negotiations, the Chinese side has been very small, would like to talk into a "China price" is very difficult.
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