In 2010, China's bulk commodity import prices rose sharply, and the sharp rise in iron ore import prices caused the Shandong Iron and Steel Industry to spend nearly US$50 per ton. According to statistics from Qingdao Customs, in 2010, 160 million tons of iron ore was imported at the Shandong port, a year-on-year increase of 1%; value was US$19.63 billion, an increase of 62.6% year-on-year; average import price was US$125.7/ton, a year-on-year increase of 60.9%.
In addition, as the monopoly of international coking coal continues to increase, the development of China's steel industry faces new challenges. In recent years, with the rapid development of China's steel industry, the demand for coking coal imports has been increasing. In 2009, the import volume reached more than 30 million tons, and in 2010 it was close to 50 million tons. At the same time, the international iron ore giants have stepped up the acquisition of coking coal companies, further aggravating the monopoly of the international coking coal market, directly pushing the pricing model of coking coal from annual pricing to quarterly pricing, driving up prices, and increasing the cost of domestic steel mills. pressure. Coking coal will also become another bottleneck for the development of China's steel industry after iron ore.
Judging from the import trend, the monthly import volume of iron ore in our province shows a “V†shape. In the first four months of the year, the monthly import volume of iron ore in Shandong Port remained at a relatively high level. Starting in May, affected by changes in the pricing mechanism and the adjustment of the country’s macroeconomic policies, the enthusiasm of the iron ore importers and steel companies in the province was frustrated, and the import volume experienced negative growth for five consecutive months. Among them, 8.776 million tons were imported in August, which was the lowest monthly import since February 2009.
Entering October, stimulated by the expected increase in ore prices in the first quarter of 2011 and the rigid demand for 10 million sets of affordable housing in 2011, domestic iron ore importers began to import a large number of iron ore deposits in preparation for the coming year. Therefore, Shandong Port The import of iron ore recovered its momentum of year-on-year growth, and monthly imports continued to pick up.
With the fluctuation of the import volume of iron ore, the import price of iron ore has been rising. Statistics show that after September, the average import price has remained above US$140/ton, of which the average import price in October reached US$144/ton, which is the highest value since October 2008. The average import price in December was US$140/ton. , slightly lower than the previous period, but still at a high level.
It is worth noting that due to the lack of pricing right, while the import price of iron ore continues to increase, the profits of the steel industry in China continue to decline. In the first 11 months of the past year, the import of iron ore in China decreased by more than 6 million tons year-on-year, and the expenditure was more than USD 25.7 billion in the same period of 2009. The profit rate of the steel industry was only 3.5%, which was lower than the average profit of various industries. , The lowest in the domestic industrial industry.
Customs advises that: In view of the fact that China's iron and steel production enterprises are numerous and decentralized, the steel industry should continue to eliminate backward steel production capacity, accelerate domestic industrial integration, establish a smooth market communication mechanism, realize steel enterprises' on-demand production, rely on technological innovation and provide preferential policies. We will vigorously promote the exploration, development, and utilization of domestic mines, effectively ease the dependence on imported iron ore, and at the same time, encourage companies to invest in overseas mines and coking coal resources, and increase China's pricing power.
In addition, as the monopoly of international coking coal continues to increase, the development of China's steel industry faces new challenges. In recent years, with the rapid development of China's steel industry, the demand for coking coal imports has been increasing. In 2009, the import volume reached more than 30 million tons, and in 2010 it was close to 50 million tons. At the same time, the international iron ore giants have stepped up the acquisition of coking coal companies, further aggravating the monopoly of the international coking coal market, directly pushing the pricing model of coking coal from annual pricing to quarterly pricing, driving up prices, and increasing the cost of domestic steel mills. pressure. Coking coal will also become another bottleneck for the development of China's steel industry after iron ore.
Judging from the import trend, the monthly import volume of iron ore in our province shows a “V†shape. In the first four months of the year, the monthly import volume of iron ore in Shandong Port remained at a relatively high level. Starting in May, affected by changes in the pricing mechanism and the adjustment of the country’s macroeconomic policies, the enthusiasm of the iron ore importers and steel companies in the province was frustrated, and the import volume experienced negative growth for five consecutive months. Among them, 8.776 million tons were imported in August, which was the lowest monthly import since February 2009.
Entering October, stimulated by the expected increase in ore prices in the first quarter of 2011 and the rigid demand for 10 million sets of affordable housing in 2011, domestic iron ore importers began to import a large number of iron ore deposits in preparation for the coming year. Therefore, Shandong Port The import of iron ore recovered its momentum of year-on-year growth, and monthly imports continued to pick up.
With the fluctuation of the import volume of iron ore, the import price of iron ore has been rising. Statistics show that after September, the average import price has remained above US$140/ton, of which the average import price in October reached US$144/ton, which is the highest value since October 2008. The average import price in December was US$140/ton. , slightly lower than the previous period, but still at a high level.
It is worth noting that due to the lack of pricing right, while the import price of iron ore continues to increase, the profits of the steel industry in China continue to decline. In the first 11 months of the past year, the import of iron ore in China decreased by more than 6 million tons year-on-year, and the expenditure was more than USD 25.7 billion in the same period of 2009. The profit rate of the steel industry was only 3.5%, which was lower than the average profit of various industries. , The lowest in the domestic industrial industry.
Customs advises that: In view of the fact that China's iron and steel production enterprises are numerous and decentralized, the steel industry should continue to eliminate backward steel production capacity, accelerate domestic industrial integration, establish a smooth market communication mechanism, realize steel enterprises' on-demand production, rely on technological innovation and provide preferential policies. We will vigorously promote the exploration, development, and utilization of domestic mines, effectively ease the dependence on imported iron ore, and at the same time, encourage companies to invest in overseas mines and coking coal resources, and increase China's pricing power.
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