The hottest iron ore negotiation is concerned, and

2022-08-12
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Iron ore negotiations are concerned, and the abnormal cost of the steel industry is difficult to end

iron ore negotiations are concerned, and the abnormal cost of the steel industry is difficult to end

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Guide: at the quarterly operation conference recently held by China Steel Association, Luo Bingsheng, executive vice president of China Steel Association, revealed that the 2011 iron ore negotiations have begun, and the supply and demand sides have made certain contacts and exchanges. However, on the progress, content and other details of the iron ore negotiations, due to the confidentiality of both sides of the negotiations

at the quarterly operation press conference held by CISA recently, luobingsheng, executive vice president of CISA, revealed that the 2011 iron ore negotiations had begun, and the supply and demand sides had made certain contacts and exchanges. However, Luo Bingsheng did not comment on the progress, content and other details of the iron ore negotiations due to the confidentiality principle of both parties

Luo's statement made the industry start to speculate on the prospects of iron ore negotiations next year. When talking about whether the operation of the iron ore market next year can create a good environment for negotiations, most people in the industry said they were not sure, because the ore price will still be at a high level

high ore prices squeeze profits

looking back on the iron ore negotiations in 2010, the long-term association ore price, which has been adhered to for more than 40 years, was replaced by quarterly pricing. Therefore, Chinese steel enterprises have to pay for the rising iron ore. In the first three quarters of 2010, the average import price of iron ore in China was $122/ton, up 56.3% year-on-year

data show that from January to September 2010, China's imported iron ore engineering plastics also had a feature: it was easy to produce 457.6 million tons, a decrease of 11.53 million tons over the same period last year. However, the total amount paid was US $55.689 billion, an increase of nearly 130.3 billion yuan over the same period last year

corresponding to this is a sharp decline in profits. In August, the sales profit margin of large and medium-sized steel enterprises was only 2.84%, lower than the average profit level of China's industrial industry. In August, the sales profit margin fell to a low level of 1.45%

CISA pointed out that China's steel industry is still "facing the double squeeze of sharp decline in steel prices and high raw material costs"

however, what worries the industry is that the bad days are far from over. Yang Zhe, channel manager of Dongfang iron and steel e-commerce Co., Ltd., told the author that when inflation pushes up the prices of non-ferrous metals and other bulk commodities, iron ore will also be repriced, and iron ore prices will rise in 2011

"from the perspective of the international environment, in order to stimulate the economy, the US Federal Reserve's new round of quantitative easing monetary policy is close at hand, and the result is the sharp depreciation of the US dollar. Then, relative to the currency appreciation of major iron ore exporting countries such as Australia and Brazil, the export price of iron ore will increase." Lange steel analyst Zhang Lin further analyzed to the author

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