Iron ore in 2009 unsettled the old accounts have not received advance two billion U.S. dollars - iro

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A 2 billion U.S. dollars of the old accounts, so far unresolved.
5 17, reporters from the reliable information sources that, in 2009, China's steel enterprises from the three major international mining companies (Rio Tinto, BHP Billiton, CVRD) iron ore imports, the still more than 2 billion U.S. dollars in huge advances, has not recovered.

In early 2009 iron ore negotiations, as China refuses to follow Japan and Korea reached with the three mines "on the basis of price cuts in 2008, 33% (55-60 U.S. dollars / ton)" agreement, the three mines in sales to the Chinese steel enterprises, the more the price by 80% in 2008 (66-72 U.S. dollars / ton) settlement, that is, than the price set by Japan and South Korea about 13 percentage points higher.

An authority of the steel prices are calculations to reporters: "rough estimates, revenue per ton more than about 10 dollars in China over steel prices to overall imports from two hundred million to 300 million tons of dollars, even taking into account a small number of enterprises enjoy a small discount, a conservative estimate, China's steel enterprises to pay 20 billion dollars, that is, now faces the potential loss of nearly 14 billion yuan. "whole in 2009, China's Steel Association's 68 medium-sized steel enterprises for a total profit of 55.388 billion yuan only.

At that time, three mine, as long as Japan and South Korea 2009, China signed agreement outcome of the negotiations, they put the advance payment refund overcharged steel enterprises in China. But now, China has no official position on this.

"Position agree that we will lose what? A face on the real value of such a big price for it?" The official said, discontent is spreading among some Chinese steel enterprises.

, However, has been in the iron ore negotiations for China's steel enterprises on behalf of "statement" of the China Steel Association, it is difficult to step. Objectively, this may make China Steel Association, with three mines in the next battle, into a continuous passive motion.

2009 to the present, the international iron ore negotiations in order to obtain "reasonable" treatment, for the three major mining and steel enterprises in South Korea reached agreement in 2009 iron ore prices and a long second quarter of 2010 iron ore price settlement China Steel Association no position to accept.

Pay two billion U.S. dollars
2009, at the Japanese and Korean steel prices and the three mines had reached the "33% price cut" of the agreement, as the China Steel Association believes that the reduction is not enough, and the advocate of the "China model" is implemented, so has not officially signed on to implement the price.

According to report, even though private Chinese enterprises, said, "willing to follow Japan and South Korea the price," but still required three ore minerals needed by the Chinese steel enterprises in Japan and South Korea the price higher than the provisional price of settlement, "Duotuishaobu." This is when the two sides should practice pending the negotiations, but do not want a suspension is for one year.

5 17, East China, a steel enterprise executives recalled the reporter, said: "When there is an argument that such agreement on China Steel set a price, then settled in accordance with the new price." Overall, China Most steel enterprises in accordance with the 2008 iron ore prices 80% payment to the three mines, namely, more than the Japanese and Korean steel enterprises to pay 10 U.S. dollars per ton.

Whole in 2009, China from Rio Tinto and BHP Billiton's iron ore imports about 2 million tons, imported from Brazil's Vale is about 90 million tons, according to pay 10 U.S. dollars per ton basis, the total will be 20 to 3 billion U.S. dollars is huge.

At the time, because the prices are still much cheaper than the spot price, so most Chinese steel companies have agreed to the provisional price. Three mine also let it be said that as long as steel prices Japan and South Korea co-signed agreed to settlement, can advance refund overcharged customers in China.

"Many contracts are in accordance with the 2008 implementation of 80% of the price that is about finished and then your money back. But since leaving the subject has not, so no refund was." Joint metal mesh analyst Hu Kai, the reporter said.

Be "discrimination" "In fact, the three mines are invariably take '2008 China's steel mills to postpone, cancel a long association mining 'that things can be said that the consequences of breach of China's steel mills to today has not completely eliminated." The Interpretation of the three steel enterprise executives so mine's "blackmail" move.

Minmetals Group deputy general manager Zhang Ye Chinese mining company, also agrees. "I believe that mining companies really make life difficult for the Chinese buyers the ill feelings, or during the financial crisis stalled many a long association mining. This is a psychological Hom, though, from the results, I can not see how uncomfortable mine."

News from reliable news sources that were, in practice, three giant steel mills in China have begun to implement the "discriminatory policy": a few in the first quarter of 2009, still insists on a difficult period of from three ore purchasing Chinese steel enterprises, access to price cuts, slightly higher than other Chinese companies. And "by 2008, 80% of settlement price", is mainly applicable to the contract was not implemented most of China's steel enterprises.

Article Source: http://depositarticles.com/

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