The deadlock of Sino-Australian iron ore negotiations in domestic steel mills led to losses
-
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 in China may have to buy iron
ore from spot market in Q3 with the price higher 80% than 2009. The
large-scaled steel mills directly negotiating with suppliers got more
preferential terms, while some ones paid with the price higher 77% than
the benchmark price of 2009.When the iron ore negotiation
dominated by China Iron&Steel Association (CISA) was deadlocked,
the domestic large steel mills privately signed purchasing agreements
with Australian miners.Led by CISA, China’ s steel mills previously
insisted on a price cut of 40%-45% based on the benchmark price of
2007-2008 rather than the 33% reduction accepted by steel mills in
Japan, S.Korea and Taiwan, China.Source: MetalBiz
Search to find what you want
Loading- Mills Press for in 2010 iron ore talks
- BHP reports do not follow Fortescue \ u0026 # 39; s iron ore reduction is
- Iron ore market in Hebei province, with increased stability
- China pig iron price go up again recently
- India and China, targeting iron ore project in Mongolia and Afghanistan
- CISA: Iron Ore Price Talks Are Going On Now
- CISA: Iron Ore Price Talks Are Going On Now
- Iron ore output jumps when calls can be affected in China
- East Asian steel scrap and pig iron imports continue to rise offer
- China Steel Group Cannot regulate iron ore trader, CCTV Says
- Tough stand on iron ore pricing talks
- Tough stand on iron ore pricing talks
- Vale inks iron ore freight agreement with several Chinese factories
- China s Baosteel, Mills Talk To Iron Ore Miners in Singapore
- Oversea-than-expected steel price increase raised the costs and demand
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
BHP Billiton Ltd. (BHP.AU) won’t follow the iron ore prices reached between Chinese steel mills and Australian miner Fortescue Metals Group Ltd. (FMG.AU), the China Securities Journal reported Monday, citing senior officials with BHP Billiton China. Chinese steel mills and Fortescue Metals Monday said they have reached an agreement on iron
Steel market fluctuated at the low level recently, but iron ore price in Hebei market did not be affected. In turn, some steel mills were enthusiasm in purchasing, which drove iron ore price to increase slightly with stabilization. Source from markets noted that many medium and small mines have stopped production
It is learned that China’s steel mills still maintain high production, strong demand and short supply, which help China domestic pig iron price go up again.
The steel mills in India, China and other countries turned their eyes to Mongolia and Afghan with ample raw material reserves. It is understood that Indian JSW and Mesco showed much enthusiasm to the iron ore exploiting project in Mongolia and the former had set up the branch office in
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.
Steel production in China has gone up in 2009 and this has complicated the country’s iron ore price talks with international companies. A report said the country’s steel production has climbed up by 14 per cent to a record last year. Steel output rose to 568 million tonnes in 2009
The tight supply and increasing spot ore price propelled the import offer of East Asia scrap steel and pig iron to climb continuously. Presently the price of No.1 and No.2 heavy scrap stands at U.S.$360-365 per ton (CFR) and the offer of pig iron increases to U.S.$380-390 per ton (CFR).
The China Iron and Steel Association lacks the authority to push through a plan to regulate iron ore traders and should step down from leading contract price talks after its failure to reach an agreement with suppliers, the official China Central Television reported. The nation’s biggest steelmakers should form an
China would rather give up on annual negotiations for iron ore pricing contracts than accept the 33-percent cut proposed by global miners, a key official with the steel industry lobby said yesterday, even as he confirmed that the latest round of talks would see some progress within the next 10 days.
China would rather give up on annual negotiations for iron ore pricing contracts than accept the 33-percent cut proposed by global miners, a key official with the steel industry lobby said yesterday, even as he confirmed that the latest round of talks would see some progress within the next 10 days.
It is reported that,ahead of the 2010 iron ore price talks,the Brazilian mining company Vale has signed an independent agreement with several Chinese mills on iron ore freight charges for the coming three to four years, with the charges in question 20-30 percent lower than normal rates. The move is
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
Propelled by the continued recovery of the economy, global steel demand revived slowly, the operation rate of steel mills also railed successively and the price of raw material is inevitable to increase next year. Based on the improvement of cost and demand, oversea steel mills began to advance the steel
Loading...