China MiIT supported CISA and CCCMC in negotiations with foreign companies
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Zhu Hongren, spokesman for China’s Ministry for Industry and Information Technology (MIIT) has made a statement against the background of the iron ore contract price talks for 2010. The statement is as follows:
In recent years, with the rapid development of the Chinese iron and
steel industry, the import volume of iron ore has increased on a large
scale. China imported 630 million metric tons of iron ore in 2009, up
41.6 percent on 2008, and the degree of dependence on external iron ore
supplies has increased from 44 percent in 2002 to 69 percent in 2009.
China is both the largest iron and steel manufacturer and iron
ore-importing economy in the world. By January 8, 2010, the price of
Indian iron ore of 63 percent iron content, had increased to $134/mt
(including freight). As iron ore is the main raw material for the steel
industry and is closely linked to the stability of the Chinese iron and
steel industry and the national economy, the Chinese Government pays
close attention to the iron ore situation. The negotiations for iron
ore entail corporate self-discipline, and the price is determined by
the market. At present, Baoshan Iron and Steel Company is the Chinese
iron and steel corporation carrying out negotiations with the overseas
countries.The international iron ore market has recently been monopolized by the
‘big three’. We hope the main suppliers try to reach an equitable price
agreement acceptable to both sides based on the long-term and
fundamental interests of this industry and long-term cooperation with
China.Support of the China Iron and Steel Association (CISA) and the China
Chamber of Commerce for Importers and Exporters of Metals, Minerals and
Chemicals (CCCMC) in negotiating with overseas corporations, the
implementation of a registration and recording system for iron ore
imports, and the review of the flow of iron ore in the import market
can help to reduce conditions of disorder in the market. Meanwhile,
China found new iron ore resources of nearly 5 billion metric tons in
2009, and this will largely help to relieve the supply-demand
situation.Source: Steel Orbis
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Luo Bingsheng, the executive vice chairman of the China Iron&Steel Association (CISA), has predicted that the steel market in China will indicate a better performance in 2010. Mr.
The global prices of iron ore may not continue their rising trend because of China’s ongoing efforts to reorganize its steel industry and reduce their excess production capacity, the Chinese industry minister said. “International iron ore suppliers should bear in mind their long-term interests and China’s long-term growth prospects,” said Li
The global prices of iron ore may not continue their rising trend because of China’s ongoing efforts to reorganize its steel industry and reduce their excess production capacity, the Chinese industry minister said. “International iron ore suppliers should bear in mind their long-term interests and China’s long-term growth prospects,” said Li
Some research institutes said that the effort made by China to ask Australian ore makers to reduce more price did not benefit domestic steel mills, instead lift their purchasing cost. China hopes to get more beneficial price from Australian manufacturers, but its efforts backfired. The body pointed out that some steel mills
Metal Biz reported that while analysts forecast a boosted steel demand in 2010, the China Iron & Steel Association also sees a 10% rise in 2010 to 2011 fiscal year’s iron ore contract prices, as steel production will need more iron ore. According to analysis from officials of CISA, China
After the failure to achieve any result in the 2009 iron ore price talks, the China Iron and Steel Association (CISA) has again ceded its place to leading Chinese steelmaker Baosteel as the chief negotiator on the Chinese side in the 2010 iron ore price negotiations. China’s Ministry of Industry
Chinese mills are trying to keep iron ore prices rising less than 30 percent in this year’s industry talks with the big three global miners, the New Express Daily reported yesterday. It was reported that delegations from Baosteel, Wuhan Iron and Steel and others are already in Singapore to hold
Iron ore bulk price talks for 2010 between Chinese steel mills and global miners Rio Tinto Ltd. (RIO.AU), BHP Billiton Ltd.
Iron ore bulk price talks for 2010 between Chinese steel mills and global miners Rio Tinto Ltd.
China, the world’s largest consumer of iron ore, should slash the number of licensed importers to as few as five to boost price bargaining power and encourage steelmakers to merge, said a state-owned research institute. Licenses should be limited to between 5 and 10, down from 112, said Li Xinchuang, executive
China, the world’s largest consumer of iron ore, should slash the number of licensed importers to as few as five to boost price bargaining power and encourage steelmakers to merge, said a state-owned research institute. Licenses should be limited to between 5 and 10, down from 112, said Li Xinchuang, executive
Beijing is in the middle of negotiations with mining companies including Rio Tinto, BHP Billiton and Vale of Brazil to set a single price for iron ore, the key raw material for steel making. The negotiations are worth tens of billions of pounds, as China tries to drive prices down by
Amid the recent rise in raw material prices, South Korea’s price of steel products including an iron bar is to increase. According to industry insiders on Monday, Hyundai Steel has decided to raise its steel prices centering on long products and apply price increases from on February 2. Consequently, other
Representatives from Baosteel Group Corp. and Wuhan Iron and Steel Group, among other Chinese steel mills, have gone to Singapore for “interaction” with the world’s top three miners on 2010 iron ore benchmark prices, a China Times report said Monday
China is at it again. This year also China has decided to take a hardline as far as iron ore price negotiations are concerned. Even before the Beijing starts its 2010 iron ore annual contract price negotiations in April with the big three global iron ore-mining giants, the country has
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