Although the price of imported iron ore has suddenly cooled down in the fourth quarter of 2011, Chinese steel companies are likely to still be unable to escape the high price of minerals this year. Yesterday, it was reported that as one of China's major iron ore source countries, India has increased the iron ore export tariff rate from 20% to 30% since December 30, 2011. Since India has always been considered an important factor constraining the mining giants in Australia and Brazil, the increase in export tariffs has caused the Chinese steel industry to be hit hard at the beginning of 2012. It is worth noting that eight months ago, India had just increased the export tariffs on iron ore fines and lump ore from 5% and 15% to 20%. The industry generally believes that India is the world's third largest iron ore exporter, and the increase in export tariffs will increase the price of Indian iron ore. Since India is one of the major countries in China's iron ore imports, this will undoubtedly have a negative impact on China's steel industry. "At present, the spot price of iron ore in India should be around 130 US dollars per ton, and the increase in tariffs will increase the procurement cost of steel enterprises by about 13 US dollars per ton. This extent has a greater impact on steel companies. "My steel network analyst Zeng Jiesheng said in an interview yesterday. According to reports, in recent years, India's domestic steel industry has developed rapidly, and the demand for iron ore has surged. As a result, the Indian government has begun to adopt a tough measure such as sharply increasing export tariffs to control iron ore exports, especially for China, the world's largest iron ore. Buyers are particularly harsh, and even proposed to achieve zero iron ore exports to China by 2015. Zeng Jiesheng pointed out that India’s iron ore export control policy for China has already produced results. The data shows that the proportion of iron ore imported from India in India in 2011 has fallen from the previous 23% to 15%, while the proportion of Australian iron ore imports is still about 43%, Brazil is about twenty one%. "As we all know, the three major mines occupy a monopoly position in the global trade of iron ore. India has always been an important step for Chinese steel companies to compete for the right to speak with the three major mines. If the three major mines insist on price increases, China will increase imports from India. Quantity, but now India’s policy of controlling exports has made Chinese steel companies in a hurry.†However, some insiders believe that for the Chinese steel industry, to get rid of the nightmare of importing iron ore, we must control steel production and improve the steel industry. Concentration starts with the increase in the purchase quantity of domestic iron ore and the diversified purchase of ore.
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