Core Tip: China Steel Association, said an announcement on the 17th, the Chinese iron and steel enterprises with Australia FMG on 2009 China imported iron ore prices of iron and steel enterprises to reach agreement. FMG is committed to the implementation of a price, that is, ore powder 94 cents per ton degrees, 100 degrees block cents per tonne of ore, of which 35.02% powder ore prices.
Video Description: For the outcome of the talks, China Steel Association said that China imported iron ore negotiation mechanism is taking shape and will become better and better.
By August 17 According to China Iron and Steel Industry Association Web site news, China Steel Association announced on the 17th showed that China’s Baosteel, represented by iron and steel enterprises with the Australian company FMG full exchange and in serious negotiations to mutually beneficial cooperation for consensus for the year 2009 China imported iron ore prices of iron and steel enterprises to reach a mutually acceptable outcome of the negotiations.
Notice is as follows:
Represented by Baosteel in iron and steel enterprises in China with the Australian company FMG full exchange and in serious negotiations to mutually beneficial cooperation for a consensus on the year 2009 China imported iron ore prices of iron and steel enterprises to reach a mutually acceptable outcome of the negotiations. Bulletin is as follows:
A price: FMG’s commitment to sell to the Chinese iron and steel enterprises to implement a price of iron ore, that is, dry powder ore FOB degrees 94 cents per ton, dry pieces of ore per ton FOB degrees 100 cents (ore powder price 35.02%, 50.42% block ore price).
Second, the duration of the contract from 2009 July 1 to December 31.
China Iron and Steel Association to thank the community concerned about the import of iron ore negotiations, the Chinese iron and steel enterprises reached between the two sides will earnestly abide by the agreement, in accordance with the state, “the steel industry restructuring and revitalization of planning” to do a good job with this related work.
About FMG in Australia:
FMG is one of Australia’s third-largest iron ore producer, has set up since 2003, growing at an astonishing speed of its history. With its 30 billion Australian dollars and due to the successful operation of the market and growing reputation, FMG will become Australia’s mining exports heavyweight new company. Pilbara region in Australia with the largest prospecting territory, 50 thousand square kilometers in its 15% less than the total area of geographical discovery and has 4.5 billion tons of iron ore resources, including reserves of 1.1 billion tons to meet the standard. 2009, a formal stake in Hunan Valin Iron & Steel FMG, has become the second largest shareholder of the FMG.
Glossary: tons of degrees
Refers to the tons of degrees contained in the purity of 1 ton. When calculating the price may be a grade that is usually referred to how much of a taste (or tons of degrees). For example, 100 tons of metal yuan / ton, then for each grade (tons degrees) price is 100/100 = 1. Kind of tons of metal content is 50% (grade 50), then the price is kind tons: 1 x 50 = 50 yuan / ton.
The establishment of three general concepts:
Tons kind: a high grade metal low, as well as wet and dry-based differences, the general is based on dry basis.
Benchmark metric: the conclusion of the contract are the use of benchmarks tons, delivery price will also be kind when converted to the base metric tons.
Tons of metal: the general in the delivery of no use, but in the conversations we all know how much a ton of metal. In fact, the base price on behalf of tons of tons of metal prices.