The downturn in the market to make new iron ore pricing model of the "shake". The person in charge of a number of domestic steel mills to the continued downturn in the steel market, the current pricing model ore prices fluctuated wildly, already overwhelmed by so many steel mills, they are eager to three mines can restore the previous long association annual pricing .
It is worth noting that, in addition to Chinese steel mills, the International Iron and Steel manufacturers also issued under the depressed market environment similar to the requirements of. On the 25th to foreign media reports ChungJoon-yang, South Korea's POSCO CEO recently said that the company and other iron and steel industry, iron ore suppliers to return to the annual contract system.
"We also carried out through different channels of communication and effort, can carry out some consultations and mine, and strive ore pricing model to be able to return to the previous long association model." Person in charge of a domestic steel mill, told reporters. He admitted that fact, since the fourth quarter of last year, the market has been in the doldrums, steel prices while ore costs remain high, resulting in very poor steel actual earnings, product sales margins are unable to maintain. According to CISA statistics, the key large and medium-sized steel enterprises in 1-4 months, the whole industry realized a profit of 1.15 billion yuan, down 96.7 percent.
It is worth noting that the plight of the downstream steel industry will ultimately affect the upstream iron ore prices, the three mines will be the practice of "killing" pay the price. My steel net advisory director Xu Xiangchun years has been in the past with the steel market downturn and the increase in global iron ore supply, the three mines ore prices to gain huge profits. The reporter learned that, due to the impact of Australian mining tax and a carbon tax, including BHP Billiton, Rio Tinto and CVRD, including the three mines not only the stock price decline, but all have been to convey the optimistic forecast of cooling on the global commodity.
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