Chinese Minmetals Chemicals Import and Export Chamber of Commerce was informed:last Thursday, Minmetals Bang Song Yan, vice president of the Chamber of Commerce made a special trip to India with the embassy commercial counselor from the Government of India on March 1 from iron ore to the collection of 300 rupees / ton export tariff issues Communication. Bang Song Yan said the Chinese move will bring the loss of 500,000,000 U.S. dollars, and China hopes that the March 1 prior to the Indian side with the signing of the contract in accordance with the implementation of the original contract price.
Analysts believe that: the steel industry is not only the impact on economic growth efforts on the basis of a major industry in the area, but also has a prominent A stock market weight of the plate group status, and the latest trends in the industry is obviously a disadvantage. Today, the media reported that the Government of India has decided to play on March 1 iron ore levying of Rs 300 / tons of export tariffs, and in accordance with Minmetals Bang Song Yan, vice president of the Chamber of Commerce's position, which will bring China's 500,000,000 U.S. dollars Loss
China is a typical iron ore importer, and Brazil, Australia, India is no doubt that the three major exporting countries, India is now in order to greatly enhance its iron and steel production, has taken a significant export of raw materials, iron and steel enterprises in China, certainly not a good thing , Though, say the gap can be placed on Brazil, Australia, but it is clear that the initiative to negotiate prices in exporting countries, exporters of hand. Once synchronized Taigang increases by the Chinese iron and steel enterprises will be very much affected by the general, even if only a major exporter and India signed an agreement for one year (during the signing of the contract price unchanged), Baosteel Group, will be followed by Pressure. In the short term, steel plates should be cautious about the supply of iron ore a high proportion of iron and steel sector would be appropriate application of different standards.