The newly increased import of the hottest iron ore

2022-07-23
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The newly increased import of iron ore exceeded China's demand by nearly two times. The newly increased import of iron ore exceeded China's demand by nearly two times. It also promoted the demand for connectors: luobingsheng, deputy secretary of the Party committee of China Iron and Steel Association, introduced at the 5th China Iron and steel raw fuel Market Summit Forum today that the price of imported iron ore in January and July this year rose by 37.79% year-on-year; China paid 137.195 billion yuan more for imported iron ore than the same period last year, which was the profit of 77 large and medium-sized enterprises in July

luobingsheng, deputy secretary of the Party committee of China Iron and Steel Association, introduced at the 5th "China Iron and steel raw fuel Market Summit Forum" today that the price of imported iron ore from January to July this year rose by 37.79% year-on-year; China paid 137.195 billion yuan more for imported iron ore than the same period last year, 2.1 times the profits of 77 large and medium-sized enterprises from January to July

luobingsheng said that from January to July this year, the 77 large and medium-sized enterprises that China Steel Association should tighten the statistics of relevant parts achieved a product sales profit margin of only 3.08%, a year-on-year decrease of 0.1 percentage points, lower than the national industrial average of 5%, in a state of high cost and low efficiency. Among them, 8 enterprises suffered a total loss of 815million yuan, with a loss of 10.4%

he believes that the high price of imported iron ore is the main reason for the low efficiency of the steel industry. From January to July this year, the average transformation of the electrical control system is imminent. The CIF price of imported iron ore is 162.76 US dollars, up 37.79%. China paid US $21.101 billion more for imported iron ore than the same period of the previous year, equivalent to RMB 137.195 billion at the exchange rate of 6.5, which is 2.1 times the profits of large and medium-sized enterprises from January to July, accounting for 6.45% of the sales revenue of the iron and steel industry

however, in fact, the new import volume of iron ore far exceeds the quantity demanded by China. "From the perspective of steel demand, domestic iron ore increased by 21.9% year-on-year from January to July, equivalent to an increase of 43.09 million tons of furnace ore. according to China's steel output from January to July, the furnace ore required for industrial production increased by 53.06 million tons over the same period of last year. After subtracting the former, China's demand for imported iron ore increased by only 9.97 million tons. In fact, imported high priced iron ore increased by 28.14 million tons over the same period of last year, leaving a surplus of 18.17 million tons." Luobingsheng believes that there may be artificial speculation, which makes the current imported iron ore price at a high level

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