With the restoration of iron ore exports from Karnataka, India, on April 20th, China's continuing high iron ore import prices may be expected to receive a brief respite.
However, it is unrealistic for Chinese steel companies to completely rely on the idea of ​​increasing Indian mines to withstand the three major mines.
Earlier reports said that relevant departments such as the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Commerce are working together on related policies and measures for iron ore. The "Daily Economic News" reporter learned yesterday that the Ministry of Industry and Information Technology's regulatory policy on iron ore imports has now been revised and transferred to the Ministry of Industry and Information Industry and the Department of Iron and Steel responsible for supervision and implementation.
The National Development and Reform Commission had previously warned Rio Tinto, one of the giants of the three major iron ore mines, that “iron ore negotiations cannot affect industrial safety and employment cannot be affected.â€
All indications indicate that the Chinese government has deployed iron ore critical sites from the perspective of national industrial safety. The negotiation of imported iron ore that had been previously carried out by the China Iron and Steel Association has revealed that the government has become increasingly hard-hitting.
Last year, the profit of large and medium-sized steel enterprises was only 2.84%
The following groups of data are fidgeting.
In the past seven years, the price of imported iron ore has fallen from less than US$30/ton, and it has risen to more than US$180/ton now. Shao Anlin, president of the China Metallurgical and Mining Enterprises Association, said yesterday that the price of imported iron ore rose by 8% year-on-year in the first quarter. This year, the price of imported iron ore will also keep rising.
Contrasting with the continuous rise in the price of imported iron ore, the profit rate of the steel industry has continued to decline. The average profit rate of 77 large and medium-sized iron and steel enterprises in China Steel Association fell from 8.10% in 2004 to 2.84% in 2010. Last year, the average profit rate of industrial enterprises above designated size was 6.22%.
Shao Anlin also disclosed that in 2010, China’s steel production exceeded 600 million tons, and the total profit of 77 members of the China Iron and Steel Association was only 89.7 billion yuan, or approximately 13.6 billion US dollars, which was less than any of the world’s three largest mining companies. According to the 2010 annual report of the three major mining groups, Rio Tinto Group’s net profit was US$14.3 billion, up 122% year-on-year, and BHP Billiton’s net profit was US$17 billion. The total profits of the three mining companies in 2010 were as high as 48.6 billion U.S. dollars.
The bigger test is still behind. "Daily Economic News" reporter was informed that the international mining giant is accelerating the entire process of industrial chain control. Vale is planning to build distribution centers and iron ore bulk cargo terminals in China's coastal ports and neighboring countries (such as Malaysia). It is also likely to build a pellet plant, and ordered 30 400,000 tons of iron ore cargo ships, starting this year. It will be fully operational by 2013. Iron ore shipped to the distribution center is likely to be sold on-the-spot, and choose a more profitable flexible pricing model.
Shao Anlin said that once the above model is copied by two other major miners, it will cause serious damage to China's steel industry and national interests.
Iron ore problem affects "government power"
In the face of the increasingly obvious tendency of financial iron ore, the Chinese steel industry has for three consecutive years called for the iron ore to rise to the national strategic level, and the Chinese government has begun to pay attention to the issue of iron ore.
“The Department of Industrial Policy of the Ministry of Industry and Information Technology has included the quality management and price negotiations involved in the future import of iron ore in China into the “Twelfth Five-Year Plan†of China's metallurgical industry for the supervision of the steel industry.†Qingdao International Iron Ore, recently held At the stone workshop, Hou Shiguo, deputy director of the Industrial Policy Department of the former Ministry of Industry and Information Technology, disclosed that the Ministry of Industry and Information Technology has revised its iron ore import supervision policy and transferred it to the Ministry of Industry and Information Technology's Department of Iron and Steel for supervised implementation.
Although iron ore negotiation is a commercial activity, Xia Chuanyu, general manager of the Joint Metal Wire Materials Department, told reporters that the Ministry of Industry and Information Technology, as an industrial authority, has perfected and reiterated iron ore import and export qualifications and access policies. "This is not an iron ore negotiation. This is a state that restricts the import of iron ore industry and avoids the risk of resource supply caused by imported channels."
Some media interviewed Zhang Dejun, head of the iron and steel division of the Ministry of Industry and Materials, who indicated that the steel department has been initiating supervision of iron ore imports since 2010 and has already finalized several major measures for regulating iron ore imports from China in the future. Zhang Dezhao proposed the establishment of China's iron ore index as the benchmark for China's future iron ore negotiation pricing.
India's "lifting the ban" has little effect on India's local media reported on April 6th that the Indian Supreme Court has allowed Karnataka to resume iron ore exports from April 20th.
According to the “Daily Economic News†previously reported, Karnataka had announced at the end of July 2010 that it prohibited the export of iron ore from 10 ports of the state and subsequently banned the issuance of iron ore transportation permits for export. In order to curb the export of iron ore, the Indian government has announced that the export tariffs on the country's fine ore and lump mines will be uniformly raised to 20% in order to protect domestic iron ore resources.
“Chinese ore has gradually diversified, and the three major miners still tend to be dominant. The limited increase in India’s ore imports may help reduce international iron ore price pressures, but it’s hard to say what the Chinese steel mills are currently What has changed in the passive situation?†Lange Steel Network analyst Zhang Lin said in an interview with the “Daily Economic News†reporter.
However, it is unrealistic for Chinese steel companies to completely rely on the idea of ​​increasing Indian mines to withstand the three major mines.
Earlier reports said that relevant departments such as the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Commerce are working together on related policies and measures for iron ore. The "Daily Economic News" reporter learned yesterday that the Ministry of Industry and Information Technology's regulatory policy on iron ore imports has now been revised and transferred to the Ministry of Industry and Information Industry and the Department of Iron and Steel responsible for supervision and implementation.
The National Development and Reform Commission had previously warned Rio Tinto, one of the giants of the three major iron ore mines, that “iron ore negotiations cannot affect industrial safety and employment cannot be affected.â€
All indications indicate that the Chinese government has deployed iron ore critical sites from the perspective of national industrial safety. The negotiation of imported iron ore that had been previously carried out by the China Iron and Steel Association has revealed that the government has become increasingly hard-hitting.
Last year, the profit of large and medium-sized steel enterprises was only 2.84%
The following groups of data are fidgeting.
In the past seven years, the price of imported iron ore has fallen from less than US$30/ton, and it has risen to more than US$180/ton now. Shao Anlin, president of the China Metallurgical and Mining Enterprises Association, said yesterday that the price of imported iron ore rose by 8% year-on-year in the first quarter. This year, the price of imported iron ore will also keep rising.
Contrasting with the continuous rise in the price of imported iron ore, the profit rate of the steel industry has continued to decline. The average profit rate of 77 large and medium-sized iron and steel enterprises in China Steel Association fell from 8.10% in 2004 to 2.84% in 2010. Last year, the average profit rate of industrial enterprises above designated size was 6.22%.
Shao Anlin also disclosed that in 2010, China’s steel production exceeded 600 million tons, and the total profit of 77 members of the China Iron and Steel Association was only 89.7 billion yuan, or approximately 13.6 billion US dollars, which was less than any of the world’s three largest mining companies. According to the 2010 annual report of the three major mining groups, Rio Tinto Group’s net profit was US$14.3 billion, up 122% year-on-year, and BHP Billiton’s net profit was US$17 billion. The total profits of the three mining companies in 2010 were as high as 48.6 billion U.S. dollars.
The bigger test is still behind. "Daily Economic News" reporter was informed that the international mining giant is accelerating the entire process of industrial chain control. Vale is planning to build distribution centers and iron ore bulk cargo terminals in China's coastal ports and neighboring countries (such as Malaysia). It is also likely to build a pellet plant, and ordered 30 400,000 tons of iron ore cargo ships, starting this year. It will be fully operational by 2013. Iron ore shipped to the distribution center is likely to be sold on-the-spot, and choose a more profitable flexible pricing model.
Shao Anlin said that once the above model is copied by two other major miners, it will cause serious damage to China's steel industry and national interests.
Iron ore problem affects "government power"
In the face of the increasingly obvious tendency of financial iron ore, the Chinese steel industry has for three consecutive years called for the iron ore to rise to the national strategic level, and the Chinese government has begun to pay attention to the issue of iron ore.
“The Department of Industrial Policy of the Ministry of Industry and Information Technology has included the quality management and price negotiations involved in the future import of iron ore in China into the “Twelfth Five-Year Plan†of China's metallurgical industry for the supervision of the steel industry.†Qingdao International Iron Ore, recently held At the stone workshop, Hou Shiguo, deputy director of the Industrial Policy Department of the former Ministry of Industry and Information Technology, disclosed that the Ministry of Industry and Information Technology has revised its iron ore import supervision policy and transferred it to the Ministry of Industry and Information Technology's Department of Iron and Steel for supervised implementation.
Although iron ore negotiation is a commercial activity, Xia Chuanyu, general manager of the Joint Metal Wire Materials Department, told reporters that the Ministry of Industry and Information Technology, as an industrial authority, has perfected and reiterated iron ore import and export qualifications and access policies. "This is not an iron ore negotiation. This is a state that restricts the import of iron ore industry and avoids the risk of resource supply caused by imported channels."
Some media interviewed Zhang Dejun, head of the iron and steel division of the Ministry of Industry and Materials, who indicated that the steel department has been initiating supervision of iron ore imports since 2010 and has already finalized several major measures for regulating iron ore imports from China in the future. Zhang Dezhao proposed the establishment of China's iron ore index as the benchmark for China's future iron ore negotiation pricing.
India's "lifting the ban" has little effect on India's local media reported on April 6th that the Indian Supreme Court has allowed Karnataka to resume iron ore exports from April 20th.
According to the “Daily Economic News†previously reported, Karnataka had announced at the end of July 2010 that it prohibited the export of iron ore from 10 ports of the state and subsequently banned the issuance of iron ore transportation permits for export. In order to curb the export of iron ore, the Indian government has announced that the export tariffs on the country's fine ore and lump mines will be uniformly raised to 20% in order to protect domestic iron ore resources.
“Chinese ore has gradually diversified, and the three major miners still tend to be dominant. The limited increase in India’s ore imports may help reduce international iron ore price pressures, but it’s hard to say what the Chinese steel mills are currently What has changed in the passive situation?†Lange Steel Network analyst Zhang Lin said in an interview with the “Daily Economic News†reporter.
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