Temporary discount CVRD steel ore sales to China
According to Shanghai Securities News stated that hindrances in the global steel ore dialogues prominent, concurrently with the market downward spiral, steel ore cost procedure has a more very complex situation. 21, one of the three greatest prospecting financial gathering Vale do Rio Doce distributed a assertion the financial gathering said in 2009 steel ore bond discount will be taken to the provisional implementation of such a flexible fashion, that is, 80% of the charge paid in currency and another 20% of the pay for charge will be in 2009 after the end of the year to pay the charge negotiations.
CVRD said the contract will be implemented in 2008 as a temporary price of the benchmark prices, in 2009 after the end of the benchmark price negotiations will be based on the results of their adjustment. As is customary, CVRD and Asian steel prices will be the benchmark price negotiations in the April 1 each year, but have not seen any of the current negotiations. The past year in the new price is not supply and demand sides are pre-released last year settled a long ADPL prices, but the market downturn this year, mine was to make concessions.
CVRD Zhu, president of China said it would abandon the long-HS price first right to negotiate the price. "We are the engine, and now we intend to back the." Zhu said, the company will increase this year to 25% reduction, while increasing sales efforts in China. He believes that CVRD's products more competitive in China, as more large-scale mining companies a cost advantage is expected to cost about 100 million tons of iron ore supply will be more competitive manufacturers in lieu of.
It is understood that the first quarter of CVRD's iron ore to Europe dropped by almost half, while iron ore exports to China increased by nearly 40%, because of its steel mills and China signed a number of small and medium-long contract for the supply of ore Association.
In detail, it is furthermore the CVRD excavation business in Australia to pursue the trading strategy. According to acquainted causes, the present excavation business in Australia to China Steel's sales scheme was "long-term affirmations on iron alloy, 80% of improvement to non-agreement is 60% of families, non-agreement is the culmination of the client, or a new affirmation to signal the affirmation iron alloy mills, excavation businesses are at the identical time location market sales, a lone suggested, nearly tender, bigger than the rudimentary is to get a cargo. "
Association in harmony with the 2008 costs of the year long, Australia 63.5% of the fine particles level ore FOB costs for 91.6 U.S. dollars / ton, 76 U.S. dollars for Brazilian ore / ton. Tang Qi, general director of Wuhan Iron and Steel Group, Lin said that the end of last year in addition if the Chinese hard metal mills in 2008 in harmony with the Association of the long procurement of steel ore costs will not survive. - 18780
CVRD said the contract will be implemented in 2008 as a temporary price of the benchmark prices, in 2009 after the end of the benchmark price negotiations will be based on the results of their adjustment. As is customary, CVRD and Asian steel prices will be the benchmark price negotiations in the April 1 each year, but have not seen any of the current negotiations. The past year in the new price is not supply and demand sides are pre-released last year settled a long ADPL prices, but the market downturn this year, mine was to make concessions.
CVRD Zhu, president of China said it would abandon the long-HS price first right to negotiate the price. "We are the engine, and now we intend to back the." Zhu said, the company will increase this year to 25% reduction, while increasing sales efforts in China. He believes that CVRD's products more competitive in China, as more large-scale mining companies a cost advantage is expected to cost about 100 million tons of iron ore supply will be more competitive manufacturers in lieu of.
It is understood that the first quarter of CVRD's iron ore to Europe dropped by almost half, while iron ore exports to China increased by nearly 40%, because of its steel mills and China signed a number of small and medium-long contract for the supply of ore Association.
In detail, it is furthermore the CVRD excavation business in Australia to pursue the trading strategy. According to acquainted causes, the present excavation business in Australia to China Steel's sales scheme was "long-term affirmations on iron alloy, 80% of improvement to non-agreement is 60% of families, non-agreement is the culmination of the client, or a new affirmation to signal the affirmation iron alloy mills, excavation businesses are at the identical time location market sales, a lone suggested, nearly tender, bigger than the rudimentary is to get a cargo. "
Association in harmony with the 2008 costs of the year long, Australia 63.5% of the fine particles level ore FOB costs for 91.6 U.S. dollars / ton, 76 U.S. dollars for Brazilian ore / ton. Tang Qi, general director of Wuhan Iron and Steel Group, Lin said that the end of last year in addition if the Chinese hard metal mills in 2008 in harmony with the Association of the long procurement of steel ore costs will not survive. - 18780
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