Since February this year, iron ore prices all the way down from the end of February more than 90 US dollars / ton, down to now less than 60 US dollars / ton, the market downturn.
| POLYVINYL ALCOHOL |
Since 2000, iron ore rose and fell, the pit is the worst of China, today, “Mining” from the time dimension to talk about iron ore situation, on iron ore, looks more like a Western country Set a huge bureau to China.
From the beginning of the 1980s to the beginning of the 21st century, the international iron ore prices remained relatively stable for a long period of time, maintained at 20 US dollars / ton, but since 2004, the international iron ore prices rose straight.
| POLYVINYL ALCOHOL FIBER |
The reason is mainly “China special needs”. Since 2003, the domestic iron ore supply and demand gap is growing, the scale of iron ore imports also expanded accordingly, in 2004, China surpassed Japan to become the largest international iron ore trade buyers, “China special needs” began to become iron Main factors of ore price changes.
Japan was the largest buyer of international iron ore trade. The three mines were the largest sellers of international iron ore trade. During the period from 1980 to 2001, the Quartet has been leading the development of international iron ore prices.
In 2004, after China became the largest buyer of international iron ore trade, Baosteel began to participate in the Asian iron ore price negotiations as the world’s largest iron ore importer, China’s steel industry, but in Baosteel’s ambitious participation Asian iron ore price negotiations, the price of iron ore began to rise every year, simply unable to suppress.
| PVA FIBER |
At this time, Japan began to encroach on the upper reaches of iron ore, shares of the three mines, Japan’s Mitsui property has Brazil Valepar SA company (CVRD parent company) 18.24% stake, is behind the scenes decision-makers in Australia, 24 major iron ore, Japan The company has invested in 8 mines and 16 participating companies. Mitsui and Rio Tinto jointly owned two mines in the Newman area of Western Australia (Xi’an Giras Mine and Rob River Mine). Mitsui and BHP Billiton jointly owned five mines, such as MAC Iron Mine.
Overall, from 2003 to 2014, while China’s demand for iron ore at the same time, iron ore prices soared to the three major iron ore giants led by the Western countries, iron ore companies and Japan earned pots full.
At this stage, the Chinese government and enterprises in the fundamentally overwhelmed the rise in iron ore prices in the context of a number of measures taken to dilute the cost, such as the shares of upstream enterprises (9.3% stake in Chinalco shares, Hunan Valin Iron and Steel Stake in FMG, Minmetals acquisition of Australia OZ) and the acquisition of iron ore mines (Western Australia really easy to process the hematite project is basically not open to Chinese enterprises, the choice of food is more difficult to choose the magnetite).
And in China to learn from Japan, into the upper reaches of iron ore trade, 2013, the ore prices began to fall, the Chinese enterprises have purchased the project will continue to develop shelves and huge losses.
| PVA |
From the time dimension, the past few years, China’s leading demand, ore prices rose, the upper reaches of the big profits, when China began to participate in pricing, but “lack of confidence,” simply can not suppress the price rise, Ore suddenly fell, the upstream project shelved, the loss intensified.
It now appears that the number of overseas iron ore project in China there is a blind phenomenon, blind purchase, the future trend of iron ore is not clear (China iron ore pricing power urgent need to upgrade, otherwise China can only be routines), as well as overseas Project experience is insufficient, the overall cause of the embarrassing situation.
Since 2000, 16 years, the Western countries to dig a big pit, China did not hesitate to jump.
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