|  | Beginning in May, the iron ore decreased continuously from the current spot price of 122-123 U.S. dollars / ton. In April this year, including Rio Tinto, BHP Billiton and CVRD, including three mine turned to the flexibility of the quarter and index pricing mechanism in iron ore prices continue to decline in the background, however, they are unable to do so profitable.
For most steel mills, in the case of the second quarter contract prices have been higher than spot prices, the third quarter continue to accept ore contract prices rose very "powerless", the three mines are tasting the quarterly pricing mechanism changes brought the bitter fruit. "...   |
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| Iron ore prices fell by 30% three months | | |
| | Iron ore prices dropped back to the beginning of the level] | | In the case of the domestic steel prices continued to fall, the international market price of steel down trend, in addition to iron ore price is no longer superior. Dismal demand, steel prices weakening effect on the iron ore spot prices stumble over a large drop in The day before yesterday, the lowest grade of 63.5% Indian fine ore quote for $ 125 / t and return to the level in January of this year ... [more] |
| The spot price has been lower than the quarterly price] | | The second quarter iron ore spot prices to rise, Rio Tinto, BHP Billiton has been "call up" to improve the price of the third quarter. But for now, the spot price is lower than the quarterly price. As a large demand for iron ore imports in China since April have also been two consecutive months of decline, from 55.33 million tons in April, to 51.9 million tons in May to 47.17 million tons in June, the cumulative decreased by 14.7% ... [more] |
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| Three mine attempt to short-term profiteering dashed | | |
| | Change the pricing benefit renvoi operating fluctuations] | | Rio Tinto's iron ore production fell 2 percent in the second quarter, which will be difficult to complete in 2010, 6% of iron ore expansion plans next year, company management will be faced with the question of the board of directors. In accordance with the quarterly pricing mine based on the principles of the spot index, deep-amplitude fluctuations in the spot ore has been about $ 120, the fourth quarter quarter ore price will drop substantially. Seen in this light, the iron ore companies did not benefit from a quarter of mine, but fluctuations in production and management, as well as non-cooperative attitude of the downstream iron and steel enterprises ... [more] |
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| [Looming risk of overcapacity in an awkward position | | As of last week, the Indian iron ore CIF futures reference price was 123.5 U.S. dollars / ton, compared to mid-April high of $ 191.5 / t has dropped to $ 68 / ton, down 35.5%, which makes relying on a monopoly position has been "Lion's Mouth the three mine situation is embarrassing. Iron ore price decline reflects the market demand is shrinking, three major mines in future it is facing the risk of overcapacity ... [more] |
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| Price reduction or price reduction market waiting for the choice | | |
| | Three mines still continue to prices of Japanese and Korean steel prices have been accepted] | | Slowing demand for iron ore joint imports slowed, perhaps, is good news for the third quarter iron ore negotiations, but "arrogant" arrogance of the three mines, but he is not slowed down. Previously, South Korea's Pohang Iron and Steel Company said to have accepted the third quarter of the mining giant iron ore prices 26%. Japanese steel prices is also known to reach an agreement on the pricing of the third quarter and mine ... [more] |
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| [Baosteel Big Three sensible price cuts, said iron ore has a serious surplus of] | | Baosteel Group recently held a press conference in Beijing that the Big Three iron ore should be considered a reasonable price cuts, in order to reduce the steel company in terms of cost, to withstand the enormous pressure. China has not yet three major iron ore producer of iron ore quarterly pricing mechanism to reach consensus, the current spot market iron ore prices have been lower than short-term agreement signed by the Big Three and the major domestic steel manufacturers supply price ... [more] |
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| | The three mines to change the pricing on the current market situation indeed been the market fight back, to pay a price. But also clearly see that the pricing of iron ore still in their hands, iron ore prices rebound, they will continue to grab huge profits. Chinese steel enterprises, united, seize the opportunity to find new sources of iron ore, control pricing, this is the real. |
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