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China lows requests for the price of mine
- China Aluminium Network
- Post Time: 2009/7/1
- Click Amount: 457
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Yestoday was the deadline of the 2009 for iron ore long-term agreement contract to determine the price, and China loosed it's hard-line attitude as usual. Reporter got the information from the China Iron and Steel Asociation that it's internal decision-maker held a small meeting and brought forward to lower the price of mine, but they still want to drop more than the price which Rio and Xinritieda have first reached.
2 Before this, China Steel Association always wants the new annual iron ore price to fall more than 40%. At present, the world’s major steel producing countries, excluding China, have basicly reached a price agreement with Rio and Danshuiheigu, and another maqnate Tino has not reached a price agreement with any factory yet. According to informed sources, China's price should drop in price between 33%-40%, and it want to end the negotiation as soon as possible too. Analysts believe that even to lower the price, China’s demand will face grate resistance from mining area.
3 Since Rio and Danshuiheigu have reached the first reached price of the iron ore long-term agreement contract in 2009, the domestic traders improved the price emmediately, and the price of the available ore at ports continued to climb. Among which the Australian mine smalls(62%) have raised from 530 yuan per ton to 630 yuan per ton right noe, and the India and Brazil mine have gone up in varying degrees. Source: sohu
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