He said at the 2010 China Import Forum that there have been recent rumors that the mine has to change its quarterly pricing to monthly pricing. If this is the case, in a sense, importing iron ore and buying and selling stocks are not much different.
"Now the mine has shown its will, depending on the outcome of the negotiations with the China Iron and Steel Association," Feng Guiquan told Reuters during the meeting. "But we hope to adhere to the long-term cooperation mechanism, and the longer we can persist, the more convenient it is to arrange logistics and transport."
Since iron ore spot prices far exceed last year's benchmark price, Brazilian iron ore merchants Vale VALE5.SAVALE.N, Australia BHP Billiton BHP.AXBLT.L and Rio Tinto RIO.AXRIO.L have all given up their annual pricing in April this year. Mechanism, turn to quarterly pricing.
Feng Guiquan pointed out that with the collapse of the 2010 ASEAN system and the formation of a quarterly pricing model based on the spot index, the financialization of iron ore has far-reaching effects. First, the market becomes more complicated, the index may be manipulated, speculation is inevitable, and price fluctuations are inevitable. Will be bigger and bigger, more and more frequent.
Secondly, business profit becomes more difficult. The agreement price and the spot price will often occur, and the import will be a loss. In addition, the import risk will become larger. For the importer, not only the purchase price cannot be determined, but the sales may also face the price. Stakeholder default risk.
He also introduced that Minmetals currently supplies about 66% of the grade stone to the Chinese market about 20 million tons per year, of which domestic mines are 5-6 million tons. The goal of Minmetals is in the "12th Five-Year Plan" (2011-2015) During the period, the domestic iron ore supply can be increased to 10 million tons per year.
Talking about the progress of Minmetals' mergers and acquisitions in China, he said, "There will be, but it depends on market conditions."
Earlier, some analysts said that China's steel demand in 2011 will increase further than the record of 613 million to 625 million tons this year, and the supply from India is tight, iron ore prices are expected to rise. Standard Chartered expects that the next 12 The price of iron ore for the month will jump from just over $140 to $200 per ton.
High-performance microcentrifuge tubes, optimized design, and high-performance quality help protect your samples. Microcentrifuge tubes are made of polypropylene (PP) and are highly mechanically stable, ensuring your samples are stored, run and centrifuged worry-free.
Microcentrifuge tubes have a maximum centrifugation tolerance of 25,000 x g and are autoclavable (20 minutes, 121°C). The centrifuge tube adopts a snap-on tube cover design, which can be operated with one hand and has good sealing performance, which can effectively prevent liquid leakage; the tube wall is smooth, and the tube body is designed with a frosted area for convenient marking.
microcentrifuge tube sizes,microcentrifuge tubes 1.5 ml,microcentrifuge tubes uses
Yong Yue Medical Technology(Kunshan) Co.,Ltd , https://www.yongyuecultureplate.com