Tools: Save | Print | " target="_blank" class="style1">E-mail | Most Read
Steel Makers Urged to Help Price Iron Ore
Adjust font size:

Chinese steel makers should play an important role in the pricing of global iron ore, an official with the Department of Foreign Trade of the Ministry of Commerce said yesterday.

The official said China, as the largest iron ore importer, deserved "a bigger say" in the pricing for iron ore, and domestic companies should have more of a presence in this year's negotiation for iron ore prices.

China's import of iron ore stood at 275 million tons last year, accounting for 43 percent of the global total ocean shipment.

However, Chinese mills and iron ore traders last year accepted a 71.5 percent rise in iron ore prices, which was set by Japanese companies.

Shanghai Baosteel Group Corp, China's largest steel maker, is now in negotiations with three major suppliers, Australia's BHP Billiton Ltd, Rio Tinto Group, and Brazil's Companhia Vale do Rio Doce, to set iron ore prices for 2006.

Baosteel is the only representative of Chinese steel producers and iron ore traders in talks with major miners.

China was unlikely to see a demand for iron ore exceeding the supply this year, said the official.

According to the estimation of the China Iron & Steel Industry Association the country's crude steel production growth would slow to 10 percent this year. The figure was 24.56 percent in 2005.

The association predicted that China would demand 25 million tons more imported iron ore than last year.

"National policies for the development of steel industry encourage enterprises to wash out small-sized mills with low production capability this year, thus helping convert the supply-demand relationship of iron ore," he said.

The official also noted that the current stock of imported iron ore is increasing at a rapid speed.

There were about 33 million tons of iron ore at domestic harbours, 10 million tons at steel makers and 4 million in the hands of domestic miners, according to statistics from the ministry of communications and the Iron and Steel Industrial Association.

The high volume of stock is likely to bring current iron ore prices, which were already lower than the same period last year, to a lower level, the official said.

"Importers should think carefully about the fact so as to avoid potential risks," he warned.

According to statistics from the customs, China is diversifying its sources of iron ore. The country imported iron ore from 40 countries last year. Australia and Brazil still supply more than half of China's annual import.

Some futures market analysts predicted iron ore prices might increase by 10 to 20 percent more this year, but some argued Chinese companies could not afford an increase higher than 10 percent.

(China Daily February 17, 2006)

Tools: Save | Print | " target="_blank" class="style1">E-mail | Most Read

Related Stories
China Faces Overcapacity of Steel Industry
Steel Profits Expected to Decline
Steel Price in China to Drop This Year
Steel Industry in Dilemma
 
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號(hào)

主站蜘蛛池模板: 国产精品高清一区二区三区| 精品人妻av无码一区二区三区 | 成人18在线观看| 久久精品一区二区| 白白国产永久免费视频| 国产一区二区三区在线影院| 91福利在线视频| 天天影院良辰美景好时光电视剧 | 99精品在线播放| 日本中文字幕一区二区有码在线| 亚洲av福利天堂一区二区三| 欧美猛交xxxxx| 四虎成人影院网址| 先锋影音男人资源| 性xxxx18免费观看视频| 中文字幕日韩一区二区三区不| 日韩在线一区高清在线| 亚洲第一页在线视频| 老子影院在线观看| 国产猛男猛女超爽免费视频| x8x8在线观看| 成人18视频在线观看| 中文国产在线观看| 最猛91大神ben与女教师| 亚洲国产成人久久精品影视| 精品一区二区三人妻视频| 国产大陆xxxx做受视频| 日本xxxxx在线观看| 国产精品久久久久久久久久影院 | 国语精品高清在线观看| 中文字幕免费观看视频| 日本中文字幕黑人借宿影片| 久久精品一本到99热免费| 日韩精品一区二区三区在线观看| 亚洲av中文无码乱人伦在线视色| 特级毛片全部免费播放| 免费无码国产V片在线观看| 萝li交小说合集| 国产白嫩美女在线观看| 两个人看的www免费视频| 国产精品国产三级国产专播|