Current News
China's iron ore negotiations have been suspended inclined to retreat into ---2009-10-30
2009 iron ore negotiations have become parties to each other so that a "no-result game", all kinds of rumors and speculation as the main theme. However, the outcome of negotiations over iron ore more problematic is that in Rio Tinto "spy case" there is no place the results of the current iron ore negotiations really continue?
According to Post reporter has learned, in fact China's iron ore operations in the Rio Tinto people have been arrested for investigation, the iron ore negotiations have been suspended, but including Rio Tinto, BHP Billiton has been in all aspects, including evasive and refused to tell the truth.
A person involved in the Chinese iron ore negotiations told the Post reporters yesterday, "no such thing as the end of July the last time, so the iron ore negotiations, individual are in state of the status quo, rather than at the negotiating table."
The source said that given the current state of the Chinese side has two options: either not to expend the energy to negotiate and accept Rio Tinto and 33% drop in Japan and South Korea reached an agreement; or Rio Tinto and other "spy case" in the past a later date. This means that there is no definite time period.
In fact, it helps to explain a July 14 message. The sources said some of China's steel enterprises have been with Rio Tinto, BHP Billiton reached 33% of the decline, but the Chinese did not officially release the news. However, China Steel Union several large steel enterprises in China have been denied.
It is clear that in the end of May and Japan's Nippon Steel Rio Tinto reached a 33% price reduction when the spot price of iron ore ore prices lower than the long-term agreement, when all the steel mills Steel Association support more than 40% price reduction goal of the negotiations. But then the domestic steel prices continued to rise, iron ore spot prices have gone up, culminating in early July over a long co-price, the parties were subsequently diminishing patience and some have even remorse.
It does represent some of the iron and steel enterprise view of the current status quo. As early as the end of May, and Nippon Steel Rio Tinto agreement, including Baoshan Iron and Steel, Hebei Iron and Steel and other large steel firms, including China's steel enterprises had reached with Rio Tinto 67% of the price paid in accordance with the agreement.
However, an industry that this view at the time and not be regarded as a compromise. The source of the Morning Post said, "according to 67% of the original advance payment, which is really the right approach, this in itself is the worst outcome of iron ore negotiations, this would also take up less capital and other problems, why not do that? "
The current situation is, the three iron ore suppliers, face is not the same as differentiation has emerged. The past, followed by BHP Billiton, Rio Tinto to jointly advance and retreat, but this year in the "Rio Tinto spy case" occurred prior to BHP Billiton, Rio Tinto has also been given up to follow, while in Asia, including China Steel claims last year, the "Agreement not enough to compensate for the amount of procurement" ; Vale do Rio Doce, which wanted to be last year with two extension of the "spread" compensation.
However, because Rio Tinto "spy case" took place, including the mining and steel enterprises, including relevant aspects of enterprises have been, "hold their breath as one dares." It was reported that the two sides had a normal iron ore trade negotiations are to hedge the majority of cancellation. In this case, the iron ore negotiations are not carried out.
The senior analyst of the Morning Post, told reporters that the current situation is confused, and the authenticity of the information exist. China has already missed the best time for negotiations, and now a high-profile than simply accept the 33% rate of decline. At the same time, China can take this opportunity to rectify the chaos of iron ore import order and laying the foundation for next year's iron ore negotiations.
According to Post reporter has learned, in fact China's iron ore operations in the Rio Tinto people have been arrested for investigation, the iron ore negotiations have been suspended, but including Rio Tinto, BHP Billiton has been in all aspects, including evasive and refused to tell the truth.
A person involved in the Chinese iron ore negotiations told the Post reporters yesterday, "no such thing as the end of July the last time, so the iron ore negotiations, individual are in state of the status quo, rather than at the negotiating table."
The source said that given the current state of the Chinese side has two options: either not to expend the energy to negotiate and accept Rio Tinto and 33% drop in Japan and South Korea reached an agreement; or Rio Tinto and other "spy case" in the past a later date. This means that there is no definite time period.
In fact, it helps to explain a July 14 message. The sources said some of China's steel enterprises have been with Rio Tinto, BHP Billiton reached 33% of the decline, but the Chinese did not officially release the news. However, China Steel Union several large steel enterprises in China have been denied.
It is clear that in the end of May and Japan's Nippon Steel Rio Tinto reached a 33% price reduction when the spot price of iron ore ore prices lower than the long-term agreement, when all the steel mills Steel Association support more than 40% price reduction goal of the negotiations. But then the domestic steel prices continued to rise, iron ore spot prices have gone up, culminating in early July over a long co-price, the parties were subsequently diminishing patience and some have even remorse.
It does represent some of the iron and steel enterprise view of the current status quo. As early as the end of May, and Nippon Steel Rio Tinto agreement, including Baoshan Iron and Steel, Hebei Iron and Steel and other large steel firms, including China's steel enterprises had reached with Rio Tinto 67% of the price paid in accordance with the agreement.
However, an industry that this view at the time and not be regarded as a compromise. The source of the Morning Post said, "according to 67% of the original advance payment, which is really the right approach, this in itself is the worst outcome of iron ore negotiations, this would also take up less capital and other problems, why not do that? "
The current situation is, the three iron ore suppliers, face is not the same as differentiation has emerged. The past, followed by BHP Billiton, Rio Tinto to jointly advance and retreat, but this year in the "Rio Tinto spy case" occurred prior to BHP Billiton, Rio Tinto has also been given up to follow, while in Asia, including China Steel claims last year, the "Agreement not enough to compensate for the amount of procurement" ; Vale do Rio Doce, which wanted to be last year with two extension of the "spread" compensation.
However, because Rio Tinto "spy case" took place, including the mining and steel enterprises, including relevant aspects of enterprises have been, "hold their breath as one dares." It was reported that the two sides had a normal iron ore trade negotiations are to hedge the majority of cancellation. In this case, the iron ore negotiations are not carried out.
The senior analyst of the Morning Post, told reporters that the current situation is confused, and the authenticity of the information exist. China has already missed the best time for negotiations, and now a high-profile than simply accept the 33% rate of decline. At the same time, China can take this opportunity to rectify the chaos of iron ore import order and laying the foundation for next year's iron ore negotiations.
