Negotiations on the open price of iron ore contracts for the new fiscal year have been officially launched. Chinese and Japanese steel mills are the first to negotiate with the world's three major ore suppliers. According to Xinhua News Agency reporters learned from relevant channels. Negotiations have been carried out for two rounds, and the two sides are still demonstrating the basic elements of the iron ore market next year. Suppliers are optimistic about the market outlook, but the major steel mills as demanders believe that iron ore supply and demand will slow down next year, and there is no room for price increases. Due to the different views, the current negotiations are limited.
China and Japan take the lead in opening talks It is understood that the formal negotiations began at the end of November. In Japan, Nippon Steel is still the main negotiator of the steel industry, and negotiations are taking place in Tokyo. China is still still a negotiator of the steel industry by Baosteel Group, and the negotiation decision is “collectively made†by the China Iron and Steel Association and other relevant parties. The specific negotiations will be held in Shanghai.
According to the information collected by the reporters from all sides, the negotiations on the Chinese side have been carried out for two rounds since November 30. The two sides are discussing some basic negotiating elements and expressing their views on the basic factors of the iron ore market next year. . Conduct a detailed argument. Negotiations in Japan have basically been "synchronized" at this pace. As of the 15th, there has been no news of the beginning of negotiations in Europe.
Both supply and demand are tit for tat so far. The differences between the supply and demand sides are still large. The three major mining giants such as Brazil's Freshwater Valley (CVRD), Australia Rio Tinto and BHP Billiton (BHP) insist that global ore demand will remain strong, even if steel prices fall does not necessarily mean that the price of the mine will "synchronously" fall. However, the global steel giants expressed the opposite opinion, saying that the global steel industry has seen a trend of production cuts. As a major producer of global steel, China's steel prices continue to fall, overcapacity, steel mills' profit margins shrink, and the price of minerals continues to rise. pressure. Global supply and demand of ore will slow down next year.
Professionals judge that the arduous degree of global mineral price negotiations may exceed the previous year. In the 2005 negotiations, both the supply and demand sides agreed on the direction of the market, and the direction was the same. They all believed that they should rise, but the problem of rising more and less. Finally, Nippon Steel took the lead in signing an agreement with Brazil's Vale to raise the mine price by 71.5%. ; "Although the increase is a bit higher. But the rise is an inevitable trend." The two parties in the new year are basically the opposite in the "basic direction". It is difficult to find common ground in "one ups and one down".
At the press conference of Baosteel Xinmu Tie Auto Board Co., which was held shortly before the start of the negotiations, the world's three major steel giants – China Baosteel, Japan Nippon Steel and European Arcelor General Manager all agreed that they would not accept iron ore. The price has risen. Relevant people commented that the global steel giants have so consistently stated in public that the attitude “has not been seen beforeâ€. China's major industry associations have also indicated on various occasions that global mineral prices should be adjusted downwards, and the “turning point†of the world's iron ore supply exceeds demand may come early.
However, the ore supply side does not show weakness. According to the relevant business personnel of the Western Australian Book I--based in Shanghai, the current price difference between the spot price of the ore and the open price of the contract is about 100 yuan per ton, which may be a "weight" of the mining giant in the negotiations. According to this, China's demand for ore is still strong. In addition, various factors such as the continuous decline in international shipping costs and the appreciation of the renminbi may become the factors of “bargaining†in the negotiations.
Calibrate the "dashboard"
Some authoritative economic circles in China have begun to realize the significance of the annual ore negotiations to the Chinese economy. In a recent speech, Ba Shusong, deputy director of the Financial Research Institute of the Development Research Center of the State Council, said that compared with the impact of energy such as oil, the resource structure adjustment and control of industrial raw materials such as iron ore and copper may have an impact on the Chinese economy. Bigger. He believes that the dependence of developed countries on industrial raw materials is declining. May tolerate a sustained high in its price. This is very unfavorable for the price transmission of China's entire economic industrial chain. China should use the "quantity advantage" to form the pricing power of the global market as soon as possible, strengthen the market organization behavior of related industries, and jointly conduct negotiations.
China has strengthened the rectification of the economic order in the import and export of iron ore. The iron ore trader has been fully qualified. The China Iron and Steel Association has expanded its “steel factory team†with “long-term contracts for iron ore and stable procurement†among its members. The relevant chambers of mining trade are also integrating trade links, with the aim of organizing a large number of ore users who have been outside the scope of long-term contract purchases of global iron ore in the past, and continuously reduce the total amount of spot purchases. Disordered "emergency, speculative" spot purchase. It is a fatal injury in China's "iron ore weakness".
At a recent high-level steel seminar, officials from relevant departments, including the National Development and Reform Commission, said that China will comprehensively conduct capacity surveys and market demand assessments for the steel industry, and China’s current effective capacity and “how much will be needed in the futureâ€. The basic problem of tons of steel is clear.
Western Australian officials in Shanghai said in a conversation with reporters. China is seriously lacking authoritative long-term assessments and forecasts for the development of the steel industry and iron ore demand. This makes the global market unable to form a stable expectation of "China demand", which to some extent leads to fluctuations in global market prices.
Ba Shusong also said. If the Chinese economy is likened to "an airplane," it runs fairly smoothly. But the index on its "dashboard" is a bit unreliable. In the future, I will get the "dashboard". The smoothness of flying will be "more confident."
China and Japan take the lead in opening talks It is understood that the formal negotiations began at the end of November. In Japan, Nippon Steel is still the main negotiator of the steel industry, and negotiations are taking place in Tokyo. China is still still a negotiator of the steel industry by Baosteel Group, and the negotiation decision is “collectively made†by the China Iron and Steel Association and other relevant parties. The specific negotiations will be held in Shanghai.
According to the information collected by the reporters from all sides, the negotiations on the Chinese side have been carried out for two rounds since November 30. The two sides are discussing some basic negotiating elements and expressing their views on the basic factors of the iron ore market next year. . Conduct a detailed argument. Negotiations in Japan have basically been "synchronized" at this pace. As of the 15th, there has been no news of the beginning of negotiations in Europe.
Both supply and demand are tit for tat so far. The differences between the supply and demand sides are still large. The three major mining giants such as Brazil's Freshwater Valley (CVRD), Australia Rio Tinto and BHP Billiton (BHP) insist that global ore demand will remain strong, even if steel prices fall does not necessarily mean that the price of the mine will "synchronously" fall. However, the global steel giants expressed the opposite opinion, saying that the global steel industry has seen a trend of production cuts. As a major producer of global steel, China's steel prices continue to fall, overcapacity, steel mills' profit margins shrink, and the price of minerals continues to rise. pressure. Global supply and demand of ore will slow down next year.
Professionals judge that the arduous degree of global mineral price negotiations may exceed the previous year. In the 2005 negotiations, both the supply and demand sides agreed on the direction of the market, and the direction was the same. They all believed that they should rise, but the problem of rising more and less. Finally, Nippon Steel took the lead in signing an agreement with Brazil's Vale to raise the mine price by 71.5%. ; "Although the increase is a bit higher. But the rise is an inevitable trend." The two parties in the new year are basically the opposite in the "basic direction". It is difficult to find common ground in "one ups and one down".
At the press conference of Baosteel Xinmu Tie Auto Board Co., which was held shortly before the start of the negotiations, the world's three major steel giants – China Baosteel, Japan Nippon Steel and European Arcelor General Manager all agreed that they would not accept iron ore. The price has risen. Relevant people commented that the global steel giants have so consistently stated in public that the attitude “has not been seen beforeâ€. China's major industry associations have also indicated on various occasions that global mineral prices should be adjusted downwards, and the “turning point†of the world's iron ore supply exceeds demand may come early.
However, the ore supply side does not show weakness. According to the relevant business personnel of the Western Australian Book I--based in Shanghai, the current price difference between the spot price of the ore and the open price of the contract is about 100 yuan per ton, which may be a "weight" of the mining giant in the negotiations. According to this, China's demand for ore is still strong. In addition, various factors such as the continuous decline in international shipping costs and the appreciation of the renminbi may become the factors of “bargaining†in the negotiations.
Calibrate the "dashboard"
Some authoritative economic circles in China have begun to realize the significance of the annual ore negotiations to the Chinese economy. In a recent speech, Ba Shusong, deputy director of the Financial Research Institute of the Development Research Center of the State Council, said that compared with the impact of energy such as oil, the resource structure adjustment and control of industrial raw materials such as iron ore and copper may have an impact on the Chinese economy. Bigger. He believes that the dependence of developed countries on industrial raw materials is declining. May tolerate a sustained high in its price. This is very unfavorable for the price transmission of China's entire economic industrial chain. China should use the "quantity advantage" to form the pricing power of the global market as soon as possible, strengthen the market organization behavior of related industries, and jointly conduct negotiations.
China has strengthened the rectification of the economic order in the import and export of iron ore. The iron ore trader has been fully qualified. The China Iron and Steel Association has expanded its “steel factory team†with “long-term contracts for iron ore and stable procurement†among its members. The relevant chambers of mining trade are also integrating trade links, with the aim of organizing a large number of ore users who have been outside the scope of long-term contract purchases of global iron ore in the past, and continuously reduce the total amount of spot purchases. Disordered "emergency, speculative" spot purchase. It is a fatal injury in China's "iron ore weakness".
At a recent high-level steel seminar, officials from relevant departments, including the National Development and Reform Commission, said that China will comprehensively conduct capacity surveys and market demand assessments for the steel industry, and China’s current effective capacity and “how much will be needed in the futureâ€. The basic problem of tons of steel is clear.
Western Australian officials in Shanghai said in a conversation with reporters. China is seriously lacking authoritative long-term assessments and forecasts for the development of the steel industry and iron ore demand. This makes the global market unable to form a stable expectation of "China demand", which to some extent leads to fluctuations in global market prices.
Ba Shusong also said. If the Chinese economy is likened to "an airplane," it runs fairly smoothly. But the index on its "dashboard" is a bit unreliable. In the future, I will get the "dashboard". The smoothness of flying will be "more confident."
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