“The steel mill is not working for the mine, but is walking around the neck.†Zhang Xiangqing, chairman of Tianjin Rongcheng Iron and Steel, made such a sigh when attending the 2010 (8th) China Steel Industry Chain Strategic Development and Investment Summit. He told the Economic Information Daily that although the price of iron ore in the fourth quarter fell a bit, the iron ore price in the first quarter of next year will rise by more than a dozen dollars.
This is the latest development of the reporter's new quarterly price from the steel mill after the quarterly iron ore contract price was determined in the fourth quarter of last year.
"We have not received the quotation yet, but from the internal analysis of our company, the price will definitely rise in the first quarter." The person in charge of a steel mill in East China received a phone call from the reporter. According to his estimate, the increase should be between 10 and 20 US dollars per ton. In fact, from the current iron ore market situation, the price increase of iron ore in the first quarter is a foregone conclusion. According to the statistics of the mysteel iron ore spot index, the average price of 63.5% ore should reach US$157/ton from September until now. If the sea freight is deducted by US$10/ton, the FOB price should reach 147. USD/ton, compared with the average price of ore for the quarterly price of US$127/ton in the fourth quarter of this year, an additional US$20/ton. And these data are precisely the important reference standards for determining the price of the new quarter.
“The three major mines will make some articles in the spot market in order to take the initiative in the iron ore negotiations next year. The mine will increase the iron ore price by controlling the shipment volume and pulling the sea freight. Helped the price of imported ore to regain its upward trend," Xu Guangjian, an analyst at Union Metals Ore Channel, said in an interview with the Economic Information Daily. This statement is not empty. According to the monitoring of the joint metal network, the spot price of iron ore began to hit record highs in November. At present, the port resources are tight, the high-grade resources are more precious, and the merchants are reluctant to sell. On the 25th, the price of 63.5 printing powder has reached 168-171 US dollars / ton.
“At present, it is very good for steel mills to earn 100 yuan per ton of steel (4597, -30.00, -0.65%), and more steel mills are losing money.†Based on “increased ore prices and increased costs†Judging by Zhang Xiangqing, he was full of concerns about the later operation of the steel mill. He said that on the one hand, China's steel industry has a follow-up project and blind expansion, resulting in excess steel products, inhibiting steel prices; on the other hand, rising prices of raw materials such as ore and coke have led to cost pressures on steel mills. Both sides are forcing steel mills to narrow their original profit margins, and some steel mills can only be forced to “reduce cost and increase efficiency†through extreme methods such as tax evasion and tax evasion.
According to the statistics of 75 large and medium-sized iron and steel enterprises, China Steel Association showed that coking coal increased by 27.21% year-on-year, coal injection increased by 15.05%, metallurgical coke rose by 12.34%, and domestic concentrate powder rose. 29.35%. From January to October, in the case of steel companies vigorously promoting cost reduction and efficiency gains, the actual manufacturing cost of steelmaking pig iron still increased by 21.22% over the same period of the previous year, and it was on a monthly basis.
“Since the beginning of April, as the price of steel has been declining, the profits of enterprises have also been decreasing,†said Luo Bingsheng, executive vice president of China Iron and Steel Association. According to him, the profit margin of large and medium-sized steel enterprises in the first ten months of this year was 2.8%, and the lowest in July was only 1.16%. If the investment income from the profit from January to October is 5.45 billion yuan, the profit from sales of steel products is 63.845 billion yuan, and the profit rate of actual product sales is 2.58%, which is lower than the average profit level of the national industrial industry.
In contrast, the average CIF price of imported iron ore in the first ten months of this year was US$124.07/ton, up by US$45.66/ton over the same period of the previous year, or 58.23%. China imported 503.299 million tons of iron ore, with a total use of 62.445 billion US dollars, an increase of 22.98 billion US dollars over the same period of the previous year, equivalent to about 156.2 billion yuan, which is nearly 2.5 times the total profit of large and medium-sized steel mills in January-October.
It is worth noting that among the 75 large and medium-sized enterprises in January-October, 10 enterprises suffered losses, with a loss of 13.3% and a loss of 3.031 billion yuan. Enterprises are facing difficulties in production and operation. "After two months to early next year, the profitability of large and medium-sized steel companies will generally remain at the level of September-October." Luo Bingsheng said.
Xu Xiangchun, director of our steel network information, said in an interview that from the current situation, because China's overall economy is in a slow decline, in addition, as the temperature drops and the Spring Festival approaches, some fixed infrastructure will also be suspended. By the first quarter of next year, the downstream demand for steel will enter the off-season, which will result in a very limited space for steel prices. If the price of ore exceeds expectations in the first quarter, it means that the steel mill will face huge survival pressure or even loss in the later period.
This is the latest development of the reporter's new quarterly price from the steel mill after the quarterly iron ore contract price was determined in the fourth quarter of last year.
"We have not received the quotation yet, but from the internal analysis of our company, the price will definitely rise in the first quarter." The person in charge of a steel mill in East China received a phone call from the reporter. According to his estimate, the increase should be between 10 and 20 US dollars per ton. In fact, from the current iron ore market situation, the price increase of iron ore in the first quarter is a foregone conclusion. According to the statistics of the mysteel iron ore spot index, the average price of 63.5% ore should reach US$157/ton from September until now. If the sea freight is deducted by US$10/ton, the FOB price should reach 147. USD/ton, compared with the average price of ore for the quarterly price of US$127/ton in the fourth quarter of this year, an additional US$20/ton. And these data are precisely the important reference standards for determining the price of the new quarter.
“The three major mines will make some articles in the spot market in order to take the initiative in the iron ore negotiations next year. The mine will increase the iron ore price by controlling the shipment volume and pulling the sea freight. Helped the price of imported ore to regain its upward trend," Xu Guangjian, an analyst at Union Metals Ore Channel, said in an interview with the Economic Information Daily. This statement is not empty. According to the monitoring of the joint metal network, the spot price of iron ore began to hit record highs in November. At present, the port resources are tight, the high-grade resources are more precious, and the merchants are reluctant to sell. On the 25th, the price of 63.5 printing powder has reached 168-171 US dollars / ton.
“At present, it is very good for steel mills to earn 100 yuan per ton of steel (4597, -30.00, -0.65%), and more steel mills are losing money.†Based on “increased ore prices and increased costs†Judging by Zhang Xiangqing, he was full of concerns about the later operation of the steel mill. He said that on the one hand, China's steel industry has a follow-up project and blind expansion, resulting in excess steel products, inhibiting steel prices; on the other hand, rising prices of raw materials such as ore and coke have led to cost pressures on steel mills. Both sides are forcing steel mills to narrow their original profit margins, and some steel mills can only be forced to “reduce cost and increase efficiency†through extreme methods such as tax evasion and tax evasion.
According to the statistics of 75 large and medium-sized iron and steel enterprises, China Steel Association showed that coking coal increased by 27.21% year-on-year, coal injection increased by 15.05%, metallurgical coke rose by 12.34%, and domestic concentrate powder rose. 29.35%. From January to October, in the case of steel companies vigorously promoting cost reduction and efficiency gains, the actual manufacturing cost of steelmaking pig iron still increased by 21.22% over the same period of the previous year, and it was on a monthly basis.
“Since the beginning of April, as the price of steel has been declining, the profits of enterprises have also been decreasing,†said Luo Bingsheng, executive vice president of China Iron and Steel Association. According to him, the profit margin of large and medium-sized steel enterprises in the first ten months of this year was 2.8%, and the lowest in July was only 1.16%. If the investment income from the profit from January to October is 5.45 billion yuan, the profit from sales of steel products is 63.845 billion yuan, and the profit rate of actual product sales is 2.58%, which is lower than the average profit level of the national industrial industry.
In contrast, the average CIF price of imported iron ore in the first ten months of this year was US$124.07/ton, up by US$45.66/ton over the same period of the previous year, or 58.23%. China imported 503.299 million tons of iron ore, with a total use of 62.445 billion US dollars, an increase of 22.98 billion US dollars over the same period of the previous year, equivalent to about 156.2 billion yuan, which is nearly 2.5 times the total profit of large and medium-sized steel mills in January-October.
It is worth noting that among the 75 large and medium-sized enterprises in January-October, 10 enterprises suffered losses, with a loss of 13.3% and a loss of 3.031 billion yuan. Enterprises are facing difficulties in production and operation. "After two months to early next year, the profitability of large and medium-sized steel companies will generally remain at the level of September-October." Luo Bingsheng said.
Xu Xiangchun, director of our steel network information, said in an interview that from the current situation, because China's overall economy is in a slow decline, in addition, as the temperature drops and the Spring Festival approaches, some fixed infrastructure will also be suspended. By the first quarter of next year, the downstream demand for steel will enter the off-season, which will result in a very limited space for steel prices. If the price of ore exceeds expectations in the first quarter, it means that the steel mill will face huge survival pressure or even loss in the later period.
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