According to tradition, on April 1 was iron ore talks deadline, agreement FY 2010 new ore started. Mills started and mine yesterday annual agreements reached in the implementation of the latest prices. But so far, the results of the Chinese side and mine is still far from clear. New LF President He Wenbo held yesterday afternoon on the explanation of performance be revealed, three ore company in China and the negotiations are still in progress, but because of the ore demand, spot price rise is already a fait accompli.
Friends have asked whether the current negotiations over iron ore and China have when receiving quarterly issues such as pricing, He Wenbo said, China and three ore company negotiations are still on-going. However, he also admits, iron ore negotiations very difficult, long mode is more conducive to iron and steel industry and mines a win-win situation. He appealed to the mine can be considered from a long-term, maintenance of common development in the lower reaches.
Concern for iron ore price, He Wenbo said iron ore supply cause a rise in stock prices was "a fait accompli". On Baosteel raw material costs will have a more significant increase, so at present, Baosteel steel prices compared to the last year average has been significantly improved. But he also said that if demand can continue, current price levels to be maintained, in iron ore under the conditions of rising costs, performance of Baosteel still improved over last year.
Rising ore prices impact of, General Manager of Baosteel Ma Guoqiang, if rising ore prices this year finally 90%, tons of iron costs will increase by US $ 80. Company will adopt various measures to cope with rising costs, such as further reducing consumption and increasing added value. To current mine is also in Baosteel's supply long mine issue, He Wenbo said, at present three mining was still "maintain normal supplies" in the previous quarter, Baosteel's production is not affected.
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