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Relieve pressure soaring iron ore sea freight priority Kong – steel prices, ocean freight – steel industry

China imported iron ore port stocks up to 62 million tons of this important variable, to a certain extent, pushed up the cost of another line of Chinese steel enterprises?? International iron ore sea freight price. Yesterday, people close to the Shanghai Securities News, said the relevant ministries are preparing to take the Port in the recent joint initiatives to reduce the port inventory and reduce the phenomenon of iron ore port pressure to stabilize the sea freight and iron ore spot market price, ease and power of China Rio, BHP Billiton deadlock Iron ore price Negotiating pressure.

International mainstream and Brazilian steel company CVRD iron ore determine the starting price is almost 3 months, the Australian mining company Rio Tinto and BHP Billiton refused to accept the starting price of steel in East Asia required compensation to ocean freight. Earlier, as the Brazilian and Australian iron ore mine is very close to the sea freight and no such “compensation farce.” Before 2003, Brazil, Australia spot iron ore sea freight charter gap has been reflected in the FOB price was much lower than the current sea freight, long contract, the Brazilian Association for ore mine in East Asia Australia, consistent with CIF . Such as open mine in Brazil in 2000 prices 15.9 U.S. dollars / ton, the Australian mining 18.5 U.S. dollars / ton, Brazil, Australia to China, shipping costs were 9.5 U.S. dollars and 6.5 dollars, integrated mine CIF Ge Baxi 26 USD / tonne, the Australian mining 25.4 U.S. dollars / tons, the spread between the two is only 0.6 U.S. dollars, increase by 2%.

Dry bulk shipping market in recent years continued to rise, Brazil, China, Australia to expand the difference between sea freight, resulting in Brazil, Australia, the gap gradually opened ore CIF. May 2008, the international dry bulk shipping market, following in November 2007 again hit a record high point of Brazil to China, shipping to 106 U.S. dollars / ton, 35 dollars in Western Australia to China Shipping / ton, two premium 60 U.S. dollars / ton than the same period in 2007 rose 72% over the same period in 2006 rose 330%. Long-term contracts by 2008 65% increase, and the current spot price of a charter, the Brazilian ore CIF value will reach 189 U.S. dollars / tons of ore in Australia was 130 U.S. dollars / tons, spread over 59 U.S. dollars, nearly 50% increase.

Australian mining company that it does not match this object with the price of the contract principles, requirements for ocean freight demand-side compensation, in order to smooth the Brazilian mining CIF mine the gap with Australia. In the current round of negotiations, this issue is to be tough Rio Tinto unprecedented manner.

This joint analysis of metals analyst Hu Kai said, when the annual Iron ore talks Lock the contract price, the impact of the CIF is the only factor in the sea freight. In recent years the spot freight rate increase will push up long-term agreements ore CIF, and trigger follow the trend of the Indian spot ore prices, which prompted China’s trade companies have flocked procurement, resulting in port congestion, high freight costs, freight fever has to push next year ore prices foreshadow a long-term agreements and ultimately form a complete chain of the vicious cycle.

Have suggested the market for iron ore port of the phenomenon of hoarding, government departments can not drift. In fact, in March 2005, China enacted the “Measures for the Administration of iron ore automatic import license” as soon as possible on the Hong Kong government departments should deposit of iron ore to the Port in the work. Meanwhile, from the iron ore market order rectification at source, change in the iron ore traders and steel enterprises in the import channels and more, links and more confusion to stop hoarding, drive up the price. Hu Kai, also believes that like to break the deadlock of iron ore negotiations, the Chinese side need to start from the most vulnerable aspects of starting, to take measures to reduce the current sea freight.

Previously executive vice president of China Steel Association Luo said China is resolutely opposed to the freight price difference on the ground of long-term iron ore prices for fare increase by the agreement, negotiations will take measures to cope with potential deadlock. This proves that the Chinese shipping market will start to suppress. Hu Kai, that these measures will China be completed until after the Australian mining company to resume negotiations, 6 months ago the results difficult.
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