On the 23rd, the Benxi Municipal Government of Liaoning Province revealed that Dataigou, Qiaotou Town, Benxi City, found huge iron ore with proven reserves of more than 3 billion tons, becoming the largest iron ore mine in Asia. According to theoretical estimates, reserves are likely to double, and the local area is continuing to explore. Steel industry insiders said in an interview with this reporter on the 24th that the above-mentioned news that appeared at the time of the stalemate in iron ore negotiations has undoubtedly become a strong support for China's insistence on its position. In the long run, as the ore is mined, it will be very To a large extent, the pattern of excessive dependence on imports of iron ore in China has fundamentally enhanced our voice.
The ore company's asking price has increased recently
"As the world's largest demander of iron ore, China's principles and positions in iron ore negotiations have never changed." China Steel Association said that the 40% minimum decline is based on the comprehensive measurement of steel production and market demand. It is concluded that in the downturn of the market, it is impossible to accept other prices. Experts said that China is the biggest bargaining chip in iron ore negotiations. First, iron ore is not bought. Due to the weakening demand for iron ore, the current global iron ore is in an “oversupplyâ€. In addition, mines other than the three major mines have emerged in recent years, which also have an impact on the global iron ore supply pattern. Second, steel companies are not good. At present, global steel companies, including Chinese steel mills, are still in sustained losses.
"But in the near future, we have become more and more passive in the negotiations." Xu Xiangchun, director of the steel network consulting department, said in an interview that the first is that Japan and South Korea took the lead in accepting the 33% decline in the negotiations. The original unified negotiating camp was one by one. Afterwards, the three major mines began to focus on the Chinese spot market, raising the spot price through spot bidding – the price of the Australian powder mine (Fe62%) reached CIF77 US dollars/ton, very close to Rio Tinto and Japan, South Korea. The customer reached a 33% reduction in the initial price; from the port spot price, 63.5% of the Indian mine port car tax price is 600 yuan / ton, 62% PB fine ore price is 600 yuan / ton, 65% of Brazil The price of coarse powder is 660 yuan / ton, up 10 yuan / ton to 20 yuan / ton.
“Actually, the over-imported ore in the first three months and the crude steel output that has grown against the trend have become the weight of the ore company’s asking price,†Xu Xiangchun said.
The data shows that China's crude steel output reached 46.46 million tons in May this year, an increase of 0.6% year-on-year. According to the crude steel output in May, the steel output this year will exceed 500 million tons.
3 billion tons of reserves for China's iron ore negotiations
“The discovery of the Dataigou iron ore mine in Benxi has undoubtedly weakened the strong position of the three major iron ore producers on the supply side. Combined with the recent efforts of China Steel Association to rectify the speculation of imported iron ore, it is likely to be on the way. Iron ore negotiations play an important role, putting pressure on the three major mining companies." Xu Xiangchun said.
It is understood that the Dataigou iron ore mine was discovered by Benxi City based on the geological data of the city for nearly 15 years to carry out regional geological surveys and secondary developments throughout the city. The ore reserves of this iron ore are equivalent to the total reserves of all iron ore mines in the Anshan and Benxi areas of Liaoning Province, which are rich in iron ore. They also have the characteristics of deep burial, deep extension of ore body, steep dip angle and large scale of ore body. The industrial type is a mixture of magnetite and hematite, which is an extra-large iron deposit with an iron ore grade between 25% and 62%.
Based on this estimate, the iron ore reserves that have been identified have exceeded 3 billion tons. According to theoretical estimates, it is possible to double the number and the local area is continuing to explore.
The ore company's asking price has increased recently
"As the world's largest demander of iron ore, China's principles and positions in iron ore negotiations have never changed." China Steel Association said that the 40% minimum decline is based on the comprehensive measurement of steel production and market demand. It is concluded that in the downturn of the market, it is impossible to accept other prices. Experts said that China is the biggest bargaining chip in iron ore negotiations. First, iron ore is not bought. Due to the weakening demand for iron ore, the current global iron ore is in an “oversupplyâ€. In addition, mines other than the three major mines have emerged in recent years, which also have an impact on the global iron ore supply pattern. Second, steel companies are not good. At present, global steel companies, including Chinese steel mills, are still in sustained losses.
"But in the near future, we have become more and more passive in the negotiations." Xu Xiangchun, director of the steel network consulting department, said in an interview that the first is that Japan and South Korea took the lead in accepting the 33% decline in the negotiations. The original unified negotiating camp was one by one. Afterwards, the three major mines began to focus on the Chinese spot market, raising the spot price through spot bidding – the price of the Australian powder mine (Fe62%) reached CIF77 US dollars/ton, very close to Rio Tinto and Japan, South Korea. The customer reached a 33% reduction in the initial price; from the port spot price, 63.5% of the Indian mine port car tax price is 600 yuan / ton, 62% PB fine ore price is 600 yuan / ton, 65% of Brazil The price of coarse powder is 660 yuan / ton, up 10 yuan / ton to 20 yuan / ton.
“Actually, the over-imported ore in the first three months and the crude steel output that has grown against the trend have become the weight of the ore company’s asking price,†Xu Xiangchun said.
The data shows that China's crude steel output reached 46.46 million tons in May this year, an increase of 0.6% year-on-year. According to the crude steel output in May, the steel output this year will exceed 500 million tons.
3 billion tons of reserves for China's iron ore negotiations
“The discovery of the Dataigou iron ore mine in Benxi has undoubtedly weakened the strong position of the three major iron ore producers on the supply side. Combined with the recent efforts of China Steel Association to rectify the speculation of imported iron ore, it is likely to be on the way. Iron ore negotiations play an important role, putting pressure on the three major mining companies." Xu Xiangchun said.
It is understood that the Dataigou iron ore mine was discovered by Benxi City based on the geological data of the city for nearly 15 years to carry out regional geological surveys and secondary developments throughout the city. The ore reserves of this iron ore are equivalent to the total reserves of all iron ore mines in the Anshan and Benxi areas of Liaoning Province, which are rich in iron ore. They also have the characteristics of deep burial, deep extension of ore body, steep dip angle and large scale of ore body. The industrial type is a mixture of magnetite and hematite, which is an extra-large iron deposit with an iron ore grade between 25% and 62%.
Based on this estimate, the iron ore reserves that have been identified have exceeded 3 billion tons. According to theoretical estimates, it is possible to double the number and the local area is continuing to explore.
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