re: bhp fial to reach iron price with china import Three iron giants BHP, Rio Tinto and CVRD fail to reach their iron export price (increase 15-20% on 2005 base)
with BaoSteel Group (which represent all China's iron ore import firms) in the third round negociation. The reason is the steel in China is oversupply and the 71.5% price rise in 2005 has made lots of Chinese steel firm in deficits or big deduction of their profits. China currently consum 34% of world iron ore: slight over the amount of US+Japan.
Unlike th previous years, China replace Japan play the determined role in price negociation with 3 supply giants. Both China and Japan strongly demanding price cuts and waiting BaoSteel negociation results.
China has deverfied their import sources: in 2005 41% from Aus. 17% from Indian, 23% from S.American and now some Aferican, Canada and Asian have been developed.
If the fourth round talk fail, the trading will continue 2005 price.
The iron ore company is still atractive. Beside this which metal is more petential: gold, zinc or copper?
Is anybody know the international metal marketing have some suggestions? Thanks.
re: bhp fial to reach iron price with china import Three iron...
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