Reporters learned yesterday from the Ministry of meager profit for the recent steel industry, China will build on the current iron ore prices downlink opportunities, and prepare to build a more reasonable iron ore pricing mechanism. Insiders pointed out that the new mechanism is expected to improve the iron and steel enterprises in China long-term passive situation.
Earlier this month, the Industry Division of the Ministry of raw materials iron ore price formation mechanism of seminars held in Beijing. Steel, Minerals, Baosteel and so to send representatives to participate in the meeting. Conference made it clear, "With the current iron ore import growth is weakening, the downward price opportunities, promote the establishment of a more reasonable iron ore pricing mechanism."
Into 2012, with the sharp drop in demand from China, the international iron ore supply and demand situation was finally reversed. China Steel Association, judgments, late iron ore prices will continue to show a downward trend.
While iron ore prices, but steel prices have also dropped significantly, coupled with other production cost pressures, operating profit of the steel prices are still being compressed, many steel enterprises have losses.
Low-profit status for the steel industry, the meeting proposed to further expand the influence of China's iron ore spot trading platform, and take effective measures to attract domestic and foreign mining enterprises, steel enterprises, trade enterprises to participate in the platform transactions, expand trading volume.
The industry believes that the spot trading platform is expected to become a reliable source of China's iron ore price index, thereby promoting the establishment of the new pricing mechanism to protect the interests of the Chinese steel enterprises.
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