Temporary discount CVRD iron ore sales to China
According to Shanghai Securities News described that hold ups in the worldwide metal ore discussions spectacular, simultaneously with the market worsening, metal ore charge scheme has a more perplexing situation. 21, one of the three foremost excavation business Vale do Rio Doce handed out a declaration the business said in 2009 metal ore agreement discount will be taken to the provisional implementation of such a flexible kind, that is, 80% of the cost paid in money and another 20% of the buy cost will be in 2009 after the end of the year to pay the cost negotiations.
CVRD said the contract will be implemented in 2008 as a temporary price of the benchmark prices, in 2009 after the end of the benchmark price negotiations will be based on the results of their adjustment. As is customary, CVRD and Asian steel prices will be the benchmark price negotiations in the April 1 each year, but have not seen any of the current negotiations. The past year in the new price is not supply and demand sides are pre-released last year settled a long ADPL prices, but the market downturn this year, mine was to make concessions.
CVRD Zhu, head of China said it would desert the long-HS charge first right to converse the price. "We are the motor, and now we plan to back the." Zhu said, the financial gathering will advance this year to 25% lessening, while advancing sales efforts in China. He trusts that CVRD's yield more competent in China, as more large-scale prospecting financial gatherings a cost superiority is looked frontwards to to cost about 100 million tons of steel ore deliver will be more competent manufacturers in lieu of.
It is understood that the first quarter of CVRD's iron ore to Europe dropped by almost half, while iron ore exports to China increased by nearly 40%, because of its steel mills and China signed a number of small and medium-long contract for the supply of ore Association.
In fact, it is also the CVRD mining company in Australia to follow the marketing strategy. According to informed sources, the current mining company in Australia to China Steel's sales strategy was "long-term agreements on steel, 80% of advances to non-agreement is 60% of households, non-agreement is the completion of the user, or a new agreement to sign the agreement steel mills, mining companies are at the same time spot market sales, a single proposed, almost tender, larger than the basic is to get a cargo. "
Association in accordance with the 2008 prices of the year long, Australia 63.5% of the powder grade ore FOB prices for 91.6 U.S. dollars / ton, 76 U.S. dollars for Brazilian ore / ton. Tang Qi, general manager of Wuhan Iron and Steel Group, Lin said that the end of last year also if the Chinese steel mills in 2008 in accordance with the Association of the long procurement of iron ore prices will not survive. - 18762
CVRD said the contract will be implemented in 2008 as a temporary price of the benchmark prices, in 2009 after the end of the benchmark price negotiations will be based on the results of their adjustment. As is customary, CVRD and Asian steel prices will be the benchmark price negotiations in the April 1 each year, but have not seen any of the current negotiations. The past year in the new price is not supply and demand sides are pre-released last year settled a long ADPL prices, but the market downturn this year, mine was to make concessions.
CVRD Zhu, head of China said it would desert the long-HS charge first right to converse the price. "We are the motor, and now we plan to back the." Zhu said, the financial gathering will advance this year to 25% lessening, while advancing sales efforts in China. He trusts that CVRD's yield more competent in China, as more large-scale prospecting financial gatherings a cost superiority is looked frontwards to to cost about 100 million tons of steel ore deliver will be more competent manufacturers in lieu of.
It is understood that the first quarter of CVRD's iron ore to Europe dropped by almost half, while iron ore exports to China increased by nearly 40%, because of its steel mills and China signed a number of small and medium-long contract for the supply of ore Association.
In fact, it is also the CVRD mining company in Australia to follow the marketing strategy. According to informed sources, the current mining company in Australia to China Steel's sales strategy was "long-term agreements on steel, 80% of advances to non-agreement is 60% of households, non-agreement is the completion of the user, or a new agreement to sign the agreement steel mills, mining companies are at the same time spot market sales, a single proposed, almost tender, larger than the basic is to get a cargo. "
Association in accordance with the 2008 prices of the year long, Australia 63.5% of the powder grade ore FOB prices for 91.6 U.S. dollars / ton, 76 U.S. dollars for Brazilian ore / ton. Tang Qi, general manager of Wuhan Iron and Steel Group, Lin said that the end of last year also if the Chinese steel mills in 2008 in accordance with the Association of the long procurement of iron ore prices will not survive. - 18762
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