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"Doomsday" mechanism for iron ore talks still deadlocked approaching the brink of collapse by big tree
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"Doomsday" mechanism for iron ore talks still deadlocked approaching the brink of collapse by BIG TREE
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| Article Posted: 07/17/2010 |
| Article Views: 47 |
| Articles Written: 1033 - MORE ARTICLES FROM THIS AUTHOR |
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"Doomsday" mechanism for iron ore talks still deadlocked approaching the brink of collapse |
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Mainly in China, Baosteel and Rio Tinto Iron and Steel Company reached a long-term agreement in 2008 iron ore prices, BHP Billiton still did not accept the increase, and that this price is also a gap between the real market situation.
Many long-term iron ore supply contract, in today's (June 30) he would face the risk of failure.
At the same time, the "Rio Tinto price" generation, the China Iron and Steel Industry Association ("CISA") finally issued a statement affirming that Baosteel and Rio Tinto prices reached an agreement, opposition to BHP Billiton and advocacy raised in order to Iron ore price Index pricing practices.
Negotiations are still ongoing Last Monday, Baosteel and Rio Tinto reached agreement in 2008 iron ore long-term prices, rising 79.88% fine ore, ore rose 96.5%, this increase has been higher than the Baosteel and Brazil's CVRD reached in March 2008 long-term iron ore price agreement.
However, BHP Billiton Chief Executive Officer Reith (MariusKloppers), said Rio Tinto and Baosteel not fully reflect the outcome of the negotiations, Australia's maritime advantage of the Asian market, suggesting it does not meet this increase.
It is noteworthy that, according to many Chinese steel mills with Australian mining company signed a long-term contracts, if not today, both supply and demand long-term price on the year to reach an agreement, both parties can terminate the contract unilaterally. Prior to that there are a number of foreign media, the Australian mining company has threatened not to accept them if the steel price increases, will cancel the long-term contract, will turn the spot market iron ore sales.
Yesterday, a senior Baosteel told the reporter, Baosteel and BHP Billiton in the negotiations are still ongoing, it can not guarantee that the June 30 agreement.
"BHP Billiton has also really like to request a higher increase, but the negotiations both sides have the bottom line, our bottom line is that Rio Tinto agreed with the price increase."
The executives said, the Chinese also believe that even if the June 30 agreement was reached after the negotiations, BHP Billiton will not really be turned to the spot market iron ore sales, "under the contract is 'to cancel', but can also be declared 'no cancellation', In addition, some contract deadline is September 30, not June 30. "
Joint metal network analyst Hu Kai, also believes that Australia should not give up the long-term contractual agreements and turn to the spot market.
Is worth noting that another major negotiating parties in Asia, Japan's steel companies, not with any of the annual Australian iron ore producers to reach an agreement price. The Japanese media said the Japanese Nippon Steel Corporation and other Japanese steel companies may accept Australian mining companies on the 2008 iron ore prices rose 100% purchase price. If the results come true, it means the formation of long-term global Iron ore talks Mechanism will be further collapse.
Starting price of iron ore this year, is the world's Nippon Steel and Brazil's CVRD reached in February. In accordance with past practice, the starting price is confirmed, other steel enterprises, and mining enterprises will continue to accept this price.
Brazilian mining giant CVRD chief executive Roger? Egeneili (RogerAgnelli), said Rio Tinto's iron ore reached a higher price agreement, meaning that the traditional end of the benchmark price system. However, the need to look at other Chinese steel makers will follow Rio Tinto and Baosteel prices reached an agreement, also need to see whether the Japanese steel makers will follow the price increase agreements. Currently, CVRD hopes to continue to observe the progress.
China Steel Association against price index pricing
For Baosteel and Rio Tinto reached the higher gains, the China Steel Association official pointed out that over the years, the international iron ore seaborne trade has created a set pricing mechanism, Baosteel and Rio Tinto prices reached an agreement to maintain the existing international iron ore price negotiation mechanism, that should be positive. I am China Manufacturers writer, reports some information about concrete saw blade , masonry blades.
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