Yesterday, Luo Bingsheng, executive vice president of China Iron and Steel Association (China Iron and Steel Association), revealed in the media briefing in the third quarter that from January to September this year, China imported 45.76 million tons of iron ore, a decrease of 11.53 million tons over the same period of the previous year. However, the total amount of imports reached US$55.589 billion, an increase of US$19.162 billion over the same period of the previous year, equivalent to approximately RMB130.3 billion. This means that the price increase of iron ore has caused Chinese steel companies to pay more than 100 billion yuan for the previous September, and the 77 large and medium-sized steel enterprises that were included in the statistics of the China Steel Association in the first three quarters realized a profit of only 64 billion yuan. .
The average CIF price of imported iron ore in China has increased from US$89.88/ton in January to US$143/ton in September. From January to September, the average CIF price of imported iron ore in China was US$121.7/ton, up by US$43.84/ton from the same period of the previous year, an increase of 56.31%.
Luo Bingsheng said that global iron ore price negotiations should begin every year to the end of the year. The iron ore negotiations in China and foreign countries have begun. The supply and demand sides have already conducted certain exchanges and contacts. Luo Bingsheng expects that iron ore imports this year will be lower than last year's level, as domestic iron ore production has increased significantly.
In 2009 and 2010, China has not made any achievements in iron ore negotiations for two consecutive years. In the end, steel companies can only settle with each other at temporary prices. In 2010, the world's three major iron ore giants pushed the “quarterly index pricing†to global steel mills. There were many problems in the operation for a year, and steel mills were generally dissatisfied with the current price index.
November is the customary time for years of annual price negotiations. China prefers annual pricing. For quarterly pricing, China has repeatedly proposed that there are many problems with the current quarterly pricing index for China. I hope to negotiate with the other party about a more suitable price for China. index. The Secretary General of China Steel Association, Shan Shanghua, publicly proposed the method of linking the iron ore price index to the steel price index. However, Luo Bingsheng did not explain yesterday whether the negotiations in the new year involve annual or quarterly prices.
The average CIF price of imported iron ore in China has increased from US$89.88/ton in January to US$143/ton in September. From January to September, the average CIF price of imported iron ore in China was US$121.7/ton, up by US$43.84/ton from the same period of the previous year, an increase of 56.31%.
Luo Bingsheng said that global iron ore price negotiations should begin every year to the end of the year. The iron ore negotiations in China and foreign countries have begun. The supply and demand sides have already conducted certain exchanges and contacts. Luo Bingsheng expects that iron ore imports this year will be lower than last year's level, as domestic iron ore production has increased significantly.
In 2009 and 2010, China has not made any achievements in iron ore negotiations for two consecutive years. In the end, steel companies can only settle with each other at temporary prices. In 2010, the world's three major iron ore giants pushed the “quarterly index pricing†to global steel mills. There were many problems in the operation for a year, and steel mills were generally dissatisfied with the current price index.
November is the customary time for years of annual price negotiations. China prefers annual pricing. For quarterly pricing, China has repeatedly proposed that there are many problems with the current quarterly pricing index for China. I hope to negotiate with the other party about a more suitable price for China. index. The Secretary General of China Steel Association, Shan Shanghua, publicly proposed the method of linking the iron ore price index to the steel price index. However, Luo Bingsheng did not explain yesterday whether the negotiations in the new year involve annual or quarterly prices.
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