On April 15th, Li Xinchuang, president of the Metallurgical Industry Planning and Research Institute, gave a speech on the topic "Structural adjustment and demand outlook of China's steel industry" at the "2010 International Conference on Metallurgical and Mineral Products" held in Xi'an.
When talking about several characteristics of the current steel industry, Li Xinchuang believes that the price of raw fuel and transportation is rising, and the cost pressure of steel companies is increasing. As of April 7, Tianjin Port 63.5% India powder ore price was 1240 yuan / ton, 62% PB powder ore price was 1230 yuan / ton; and the above-mentioned varieties of iron ore prices were 1170 yuan on April 1 respectively / ton and 1160 yuan / ton, up 70 yuan / ton a week. For steel companies using spot mines, the cost pressure is even greater. On April 14, iron ore import offers continued to rise, with a 63.5% Indian powder mine price of $181/ton, while a 62% Australian block mine price rose to $185 per ton. Iron ore prices have risen for six consecutive years since 2003, and prices have fallen by nearly 30% in 2009 due to the global economic downturn. This year, the three major mines demanded a price increase of more than 100%, and sought or shorter-term supply contracts on a quarterly basis. This will increase the risk of fluctuations in the supply of raw materials for steel mills.
Since November 20, 2009, the average price of electricity has increased by 0.028 yuan, increasing the cost of the steel industry by more than 10 billion yuan. Coal prices are also on the rise, and steel transportation prices are also rising. Since December 13, 2009, the average freight rate for national railway freight has increased by 0.7 cents per ton-km. At the same time, the price of imported iron ore is also rising.
When talking about several characteristics of the current steel industry, Li Xinchuang believes that the price of raw fuel and transportation is rising, and the cost pressure of steel companies is increasing. As of April 7, Tianjin Port 63.5% India powder ore price was 1240 yuan / ton, 62% PB powder ore price was 1230 yuan / ton; and the above-mentioned varieties of iron ore prices were 1170 yuan on April 1 respectively / ton and 1160 yuan / ton, up 70 yuan / ton a week. For steel companies using spot mines, the cost pressure is even greater. On April 14, iron ore import offers continued to rise, with a 63.5% Indian powder mine price of $181/ton, while a 62% Australian block mine price rose to $185 per ton. Iron ore prices have risen for six consecutive years since 2003, and prices have fallen by nearly 30% in 2009 due to the global economic downturn. This year, the three major mines demanded a price increase of more than 100%, and sought or shorter-term supply contracts on a quarterly basis. This will increase the risk of fluctuations in the supply of raw materials for steel mills.
Since November 20, 2009, the average price of electricity has increased by 0.028 yuan, increasing the cost of the steel industry by more than 10 billion yuan. Coal prices are also on the rise, and steel transportation prices are also rising. Since December 13, 2009, the average freight rate for national railway freight has increased by 0.7 cents per ton-km. At the same time, the price of imported iron ore is also rising.
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