Home Business Politics Life Culture��Edu Sci��Tech Sports Photos
��Search
China Observer
�� China makes efforts to build spindle-shaped income distribution
structure
Photos
�� Grand dragon boat race held in Hong Kong
�� Migrant workers returned home for wheat harvest
�� Playing with children like crazy for the first time
��Home>>Business
China to continue talks over iron ore price
www.chinanews.cn 2006-05-31 09:27:44
(Source: Xinhua)
May 31 - Chinese steel mills have decided to continue negotiations over
the price of iron ore with major foreign miners, the China Iron and Steel
Association (ISA) said Tuesday to the denial of reports that Chinese
steelmakers will accept a 19-percent rise in contract prices.
"We will continue price talks with miners in June," a reliable source
with the ISA who declined to be named told Xinhua.
"We do not accept the price increase," he noted.
Chinese steel mills made the decision at a recent national meeting after
the world's leading iron ore provider, Brazil's Companhia Vale do Rio Doc
(CVRD), and German steel producer ThyssenKrupp AG agreed May 16 on the
19-percent increase in contract prices of iron ore.
Chinese steel mills are resolved to continue talks although some of their
foreign counterparts have agreed to the price hike, the source said.
They rejected to reply to confirm letters on the price rise by the CVRD,
citing that "the talks over price is not concluded yet," he said.
They hope to secure a lower price rise after being forced to accept a
71.5 percent hike in the iron ore price last year, he said.
So far, Chinese steel mills have not reached an agreement with the
world's three largest iron ore suppliers, including Anglo-Australian
miner BHP Billiton, Australia's Rio Tinto Group and Brazil's CVRD.
The ISA said earlier that setting the iron ore price without considering
the market of China, the world's biggest buyer of iron ore, is
unacceptable.
It said the Chinese central government has worked out a set of policies
aiming to regroup the iron and steel industry and phase out out-dated
production capacity in order to upgrade the industry's centralization,
which will surely dampen China's demand on imported iron ore.
China has always hoped to achieve win-win in iron ore price talks, based
on the principle of equality and mutual benefit and the international
market supply and demand situation, it said.
Chinese steel firms imported 275 million tons of iron ore last year, or
about 43 percent of the global marine trade volume of iron ore and 70
percent of the Asia's total imports.
China is estimated to import about 301 million tons of iron ore in 2006,
an increase of 10 percent from 2005, the ISA predicated early this month.
Currently, the European market reports the highest price for steel, the
official said.
By the end of April, the composite steel price index on the global market
rose to 149 points, close to last year's highest 153.4 points. However,
the composite steel price index on the Chinese market only reported
105.67 points at the end of April, down 23.6 percent from March's highest
138.33 points.
"Under such circumstances when the Asian market, especially the Chinese
market, is at a low price level, Chinese steel firms would not accept a
decision made without taking into account the Chinese market," the ISA
said.
��Chinese steelmakers pressured by iron ore price hike
��16 major steel companies object to price hike for iron ore
��China says no to iron ore price hike
��China says no to the 10% iron ore price hike
��China to cooperate with Australia in iron ore mining
��Chinese government concerned about iron ore pricing talks
��China to further regulate iron ore imports
Copyright� 2004 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service
chinese language, learning chinese china, HSK, learn chinese writing, learn chinese characters, HSK Exam, chinese school, teach chinese, chinese schools, learn mandarin, learning mandarin, learning chinese, study in chinese, learn chinese abroad, learn chinese words, speak chinese, chinese studies, how to learn chinese, learn chinese china, learn chinese online, chinese language online, learn chinese in china, study chinese online, chinese language program, chinese language school, chinese language schools, chinese speaking, learn chinese, learn mandarin online, learn to write chinese, beijing chinese language school, chinese language china, chinese language classes, chinese language courses, chinese language learning, chinese language lessons, learn chinese language, learn to speak chinese, mandarin learn, study chinese, study chinese in china, studying chinese, china chinese in learning, chinese language class, chinese language exchange, chinese language in china, chinese language lesson, chinese language study, chinese language tutor, learn chinese beijing, learn chinese in beijing, learn chinese pinyin, learn to speak mandarin chinese, learning chinese online, learning the chinese language, mandarin learn online, study chinese china, studying chinese online
No comments:
Post a Comment