[China Glass Network] Luo Bingsheng, former executive vice president of China Iron and Steel Industry Association, revealed at the "2011 Metallurgical and Mineral Products Conference" that China Steel Association recently made a report to the State Council on "the sharp increase in the price of imported iron ore brought to the steel industry." The special report on “adverse effects†has been approved by the Ministry of Commerce for research and resolution.
Iron ore business department takes over
According to reports, the reorganization will focus on "implementing the import iron ore agency system" and "reasonably controlling the port's import of iron ore stocks". In order to ensure the implementation effect, China Steel Association and the Minmetals Chamber of Commerce will jointly lead the development of relevant penalties and supervision measures. In view of the quality problems such as “high water content†frequently occurring in imported iron ore since 2010, China Steel Association is still formulating the “Imported Iron Ore Quality Standardâ€, the grade, water content and content of imported iron ore. The quality of the sulfur is regulated, and substandard ore will be banned from import. The disorder of trading order in China's imported iron ore market has been solved by the China Steel Association and the Minmetals Import and Export Chamber of Commerce for many years. Luo Bingsheng’s statement shows that the level of solving this problem has been improved, and the Ministry of Commerce will assume the major responsibility for rectifying the order of imported iron ore market.
The result is still worrying
As early as 2008, China Steel Association focused on resolving the domestic market by addressing the soaring price of imported iron ore. On February 18 of that year, the "Convention on the Self-discipline of Imported Iron Ore Trade Order in the Iron and Steel Industry" was promulgated, and it was proposed to implement the iron ore import agency system and conduct a strict review of import qualifications. Two years later, in April 2010, China Steel Association and the Minmetals Chamber of Commerce jointly issued the "2010 Iron Ore Import Enterprise Qualification Standards", "Imported Iron Ore Agent Implementation Rules", "Imported Iron Ore Contracts Regularly Reported" Three industry self-discipline documents for registration and its registration requirements. But the subsequent rectification process is still slow.
The original intention of China Steel Association to rectify is to eliminate market prices and unify the long-term price in the domestic market. However, with the implementation of quarterly pricing by the three major miners, the so-called long-term price has become closer to the market price. From this perspective, it is difficult to obtain the effect of lowering the price of minerals by revisiting the iron ore import market. In addition, although the government level has raised the level of attention to the imported iron ore market, the steel industry is still not optimistic about the prospect of re-electing the order of imported iron ore.
Some insiders pointed out that the former Secretary-General of the China Iron and Steel Association, Shan Shanghua, who pushed the self-discipline documents of the three major industries at the time, took the initiative to resign in early March and retired early. At that time, the "Imported Iron Ore Union" was established to implement this rectification. Chen Xianwen, the head of the China Steel Association and the director of the market research department of the former China Steel Association, has also left. It is still inconclusive as to who will advance this issue in the China Steel Association.
More importantly, when the three major industry self-discipline documents were introduced, the Minmetals Chamber of Commerce had expressed opposition. At the "Joint Meeting on Regulating Iron Ore Market Order" jointly held with China Steel Association, the leaders of Minmetals Chamber of Commerce expressed opposition to the passage of documents in advance. In the future, the reorganization of the iron ore import market is blamed by the Ministry of Commerce. As the competent department of the Minmetals Chamber of Commerce, the Ministry of Commerce also has certain variables in its attitude towards this matter.
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