India is China's imports of iron ore mine in the rare "cash transaction" ore, while India exports to Japan, Korea and other countries of iron ore has adopted a "long-term agreements" approach.
In 2007, India's iron ore exports to China rose as high as 127.96%, the highest in the nation of all the first export of iron ore. April 28, Luo Bingsheng Steel on behalf of the Association issued a strongly worded on India's exports to China of iron ore price analysis.
In his report, he pointed out that Brazil and Australia compared to mine for ore in India has a low-grade, high prices, prices of the characteristics of speed. India is currently at a relatively high iron ore prices, China and India should be "long-term agreement", such as ore prices in India to promote rational regression.
Luo analysis, the Indian iron ore exports to China of iron ore prices of the existence of water. For example, Indian exports of iron ore price increase in 2007 is Australia's 2.1 times, 1.33 times that of South Africa. And South Africa, the geographical distance and the grade of iron ore better than India, so India's iron ore price increases of more than South Africa, is not reasonable.
Above the domestic iron and steel enterprises, told reporters on behalf of the domestic iron and steel enterprises imported iron ore in India is "a love-hate relationship": the domestic small and medium-sized steel enterprises do not have the BHP Billiton iron ore export giants such as the status of negotiations, it can only be purchased from the market spot to meet the demand of iron ore, while India iron ore type, the grade range for the domestic needs of small and medium-sized steel companies in India to alleviate the domestic iron ore demand to play a role in tension. However, the Indian iron ore long-term agreement to follow the trend of the international iron ore price increase, so that the spot price of iron ore over the long-term agreement price nearly doubled. Indian iron ore spot prices through improper means, but also long-term agreement for low-cost suppliers feel dissatisfied with the supply of iron ore, and further promote its exports to China to raise iron ore prices.
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