News

Baosteel to quietly give in to Q3 ore price hikes - official

Leading Chinese steel mill Baosteel has not formally agreed a price for iron ore in the third quarter but may have to swallow whatever the big miners offer, a company official said on Friday. Full Coverage

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China Stance

Iron ore swaps gain more ground

The iron ore swap market is expected to grow leaps and bounds in volumes after the pricing of the commodity shifted from the traditional benchmark system to market-related prices, industry sources said on Monday. Baosteel to be evaluated for Nissan supply

Steel Industry

Steel industry may sell inventories for a steal

So far, domestic steel prices have dropped for 12 weeks in a row, with some categories losing 1,000 yuan per ton, said Su Lifeng, an analyst with Guoyuan Securities.

The Miners

BHP Billiton may renew iron-ore price push

BHP Billiton Ltd, the world's largest mining company, may use last month's 16 percent decline in iron-ore prices to persuade steelmaking clients to pay cash instead of contract-based prices from the next quarter.

Overseas M&As

African Minerals firms up $1.5b investment deal with Shandong

Shandong Iron & Steel Group on Tuesday said it will pay $1.5 billion for a 25 percent stake in African Minerals' iron ore project in Sierra Leone to bolster raw material supplies.
Backgrounder

Google, Rio Tinto cases not damage investment environment

Iron ore talks still deadlocked

Steel output may 'continue' to peak

Visit marks end of tension

Next year's iron ore talks in jeopardy

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China Biz & Economic Statistics

2009 Q3 Results of Listed Companies

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Buyers Suppliers

China:
China Iron and Steel Association (CISA), provides service to steel producers as bridge, link, adviser and assistant.

Rio Tinto:
Based in Melbourne and London, the world's second-largest supplier of iron ore.

Japan:
Nippon Steel Corporation,the largest Japanese steel producer, based in Tokyo.

Vale:
Headquartered in Brazil, the world's largest iron ore producer.

South Korea:
The Pohang Iron and Steel Company(Posco), the world's fourth largest steelmaker.

BHP Billton:
BHP Billiton, based in Melbourne, the world's largest diversified resources company.

EU:
EUROFER, founded in 1976, and located in Brussels, represents 100% of steel production in the EU.

FMG:
Fortescue Metals Group, one of the world's largest producers and sea-borne traders of iron ore.

 

Results of Previous Talks
Year
Time
Side
Price
Buyer
Supplier
Powder Ore
Lump Ore
2009
Aug 2009
CISA
FMG
-35.02%
-50.42%
 May 2009
Nippon Steel
Rio Tinto
-33%
-44%
2008
Jan 2008
Baosteel
Rio Tinto
79.88%
96.5%
March 2007
Nippon Steel/Posco
Vale
65%
71%
2007
Dec 2006
Baosteel
Vale
9.5%
9.5%
2006
June 2006
Baosteel

BHP Billiton
19%
19%
2005
Feb 2005
Nippon Steel
Rio Tinto
71.5%
71.%

Photos