Australia to increase productivity renewal of the mining boom

Australian Resources Minister Martin Ferguson has warned investment projects in the mining enterprises If you want to plan to continue to implement, it is necessary to control operating costs.

The latest research report released on Monday by the Australian Mining Committee pointed out that due to labor costs rose faster now has leapt to the world, Australia's cost advantage has declined. The rise in the cost of capital and energy transport costs continue to the mining enterprises under pressure, the report calls for more skilled migrants loudly and hope that the decision-makers of the Fair Work Act be adjusted accordingly to improve domestic productivity.

Ferguson pointed out, currently under construction, energy projects worth about 270 billion yuan, about 230 billion yuan in the project plan. He said: "there is the possibility of continuing investment boom, but we must first control the operating costs of these projects. Maximize investment opportunities, we must make sure to create an environment to attract more investment, so that the whole country will benefit. "Ferguson said Australia must always pay attention to the operating costs of the project, and concern potential investors may face challenges.

The federal government had already introduced a plan, plans to spend $ 30 billion to train more technical personnel to remove barriers to obtain environmental permits for mining enterprises, may bring in foreign workers to meet the challenges. Ferguson said: "We are the future income instead of relying on the ultra-high commodity prices, but raise the amount of exports of goods against the case of a cost-effective."

The Mining Committee's report also pointed out that the federal government is too concerned about the redistribution of wealth, so that they ignore the importance of the mining productivity.

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The world's fourth largest iron ore supplier prices plunged into a debt crisis

Reuters reported that the world's fourth largest iron ore producer in Australia FortescueMetalsGroup (FMG) and iron ore prices continued to fall into a debt crisis, the company's total debt has been as high as $ 4.5 billion. The report said, FMG is attempted contact with several international financial institutions debt restructuring.

The FMG into a debt trap and may restructure came out of the news since last week, the stock has been suspended from trading resumed trading this morning after the market was up 17.7%. Said in a Reuters report, Credit Suisse (CreditSuisse) and JP Morgan Chase (JPMorgan) has agreed to take over the the FMG debt restructuring work to pay off the first debt deadline may be postponed until November 2015. This will greatly ease the pressure of the FMG short-term funds.

The FMG, CEO of NevPower said in a statement: "We solve the debt problem quick action to ensure that the debt structure able to withstand long-term decline of the price of iron ore." Affected by the fall in the price of iron ore, FMG last week announced the suspension of a number of development projects.

A reluctant to disclose the names of the analysts, said: "This news may make all shocked." He said: "the FMG action fast, surprisingly, this also shows that the impact on manufacturers of iron ore prices far ultra imagine. "he added:" The debt restructuring is a good thing for the FMG. "

Earlier this month, FMG announced this year would cut $ 1.6 billion of investment spending, suspend the planned capacity expansion, and simultaneously announced the layoffs of thousands of people. In order to make up for lack of cash, the company also sells a power station operations.

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China ranks sixth in the world's gold reserves baked

Awareness of gold as a safe asset in the turbulence of the global economic environment, the growing popularity of Korea "Asian economic" reported on September 18 that 18 of the World Gold Council, global gold reserves totaling 31,359 tons, of which China rowsixth place, reserves tons.

It is reported that, according to the World Gold Council 18, the amount of global gold reserves totaling 31,359 tons. Look at the national and international institutions, the United States has the largest gold reserves of 8133.5 tons. Followed by Germany (3395.5 tons), IMF (2814 tons), Italy, France, China (1054.1 tons). Korea's gold reserves amount to 70 tons, ranked 40.

It is reported that the amount of gold reserves in Korea reached 70 tons, ranked 40 in the 100 surveyed countries. Translated in U.S. dollars, the value of gold reserves amounted to $ 2.98 billion. Affected by the global economic crisis, the international currency status of the U.S. dollar began to shake. In view of this, the Bank of Korea last year, the first time after a lapse of 13 years, large-scale buying 40 tons of gold, 16 tons of gold was purchased in July. South Korea's gold reserves as of September of this year jumped to 40.

Since the beginning of this year, including South Korea, Russia, Turkey and Mexico, 15 countries for the promotion of reserve diversification actively purchase gold.

After the third U.S. policy of quantitative easing (QE3), the rising demand for physical assets is expected that the price of gold will climb, buy gold trend will become increasingly prominent. The percentage of gold in South Korea's foreign exchange reserves is still lower than in developed countries such as the United States and Europe. Gold Portugal (90%), followed by Greece, the United States and Germany, the countries with the highest share of foreign exchange reserves ratio.

Gold reserve ratio is less than 1% of the countries and regions, Hong Kong (0.0%), Canada (0.3%), Iraq (0.5%), and Brazil and other.

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The establishment of the shortage of strategic mineral resources Collaborative Innovation Center

The shortage of strategic mineral resources Collaborative Innovation Center was established in Wuhan.

The Collaborative Innovation Center is led by the China University of Geosciences (Wuhan) construction, and joint entity Nanjing University, Peking University, Institute of Geology and Geophysics, Chinese Academy of Geological Sciences, the Ministry of Land and Resources, the Central Geological Prospecting Fund Management Center units build R & D institutions.

It is learned that the center will be to get rid of Geology and Mineral Resources of collaborative innovation and institutional obstacles and resolve key constraints geological prospecting breakthrough science and technology issues for the target, combined with the shortage of strategic mineral resources at home and abroad of the status quo and development trends, put forward China's domestic mineral resources to find ore prospects, evaluation system and development mode. Meanwhile, the center will focus on the implementation of the personnel evaluation, the flow of talent, personnel training, collaborative innovation, resource factor mobility five mechanisms restructuring program.

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Losing weight charge of iron ore mining magnate Twiggy

Rely on most of the borrowed funds, nicknamed "Twiggy" (many twigs) Australian mining magnate Andrew Forrest $ 15 billion betting on a boom in China's steel industry. He ignored questioned the voice in the construction of the mine, railway and port, and Rio Tinto and BHP Billiton two mining giant under the eyes to create the world's fourth largest iron ore companies - FortescueMetalsGroup (FMG).

But now, by the impact of the cut in iron ore prices in the past year, coupled with the heavy burden of debt of $ 10 billion, Fortescue faces a fateful week.

The Fortescue plan announced Tuesday with bank debt restructuring plan, which may involve the sell off assets or holdings to ensure the companies to obtain much-needed financing, and to get rid of those hedge funds shorting the stock entangled.

This crisis is the the latest scene encountered Mining magnate Forrest and his supporters adventure.

Scale construction of the iron ore mines, and then another massive borrow money he thought that the iron ore price allows him to make a killing, "BronteCapital Fund John Hempton, chief investment officer said. "But the world does not do, such as he would like it."

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Mine drop in price the cost of high school-owned mines faced put into that loss

Steel market remains in the doldrums, this year to enjoy many years of good life mining enterprises also felt unprecedented pressure, however, the face of the ore price with steel prices rapidly diving, the most anxious not still occupy absolute market share of international three mining giants, but the domestic mining enterprises, and in recent years crazy "sea" domestic investment in overseas mining "golden master" who.

"Despite the continued downturn in China's iron and steel industry, iron and steel manufacturers the ore procurement will reduce, but we still plan to continue to implement the $ 16 billion expansion plan, which most of the investment will continue to give the iron ore." In a recent interview. " First Financial Daily "reporters interview, one of the three global mining giant Rio Tinto chief executive Tom Albanese (Tom Albanese), with high contrarian expansion plans on the future needs of the Chinese steel industry confidence .

In fact, he is not just a gamble the future demand, there is cost advantage in the market downturn, squeezing the ambitions of the small and medium-sized mining enterprises.

Today, the price of iron ore from last year's peak of $ 180 per ton, down to $ 100 per ton, which has not only made a lot of domestic mining into a cut, leaving a huge investment in Australia a few years ago mine owned enterprises have dilemma.

Giant emboldened: cost advantage
Beginning in July, pre been stiff import ore prices, there has been a significant decline, fell to its lowest level since October 2009 in early September, to 86.9 U.S. dollars / ton. In recent days, by the Development and Reform Commission approved intensive urban rail projects to launch QE3 stimulus and the United States, the ore price with steel prices rebound, but not yet to break through 100 U.S. dollars / ton.

However, not Rio Tinto to continue the expansion of the scheme have the slightest impact. "We are currently in the ore production in Western Australia's Pilbara year 230 million tons, is expected to reach 283 million tons in the second half of next year, to reach 3.5 million tons in 2015, at the same time, we also expand production at mines in Canada of 19 million to 24 million ton, a joint venture with Chinalco Guinea Simandou iron ore project also plans to put into operation in 2015. "Albanese said," According to the forecast of Rio Tinto, the next fifteen years, China's steel production will continue to about 40% growth to reach 10 million tons, and we hope to seize the opportunities of the next recovery cycle. "

Compared with the domestic mining enterprises, the international mining giant Rio Tinto's day, or much better. And

People at learned from a number of industry, with imported ore prices fell sharply, the price of imported ore and domestic ore is very close to the low-cost advantage of domestic ore gradually disappear, and the high cost due to the exploitation of the domestic mining are lean ore, the general ore price at $ 110 per ton, has been most mines in the profit and loss line between life. Obviously, the current ore price has fallen below the national average cost of ore production line, resulting in an increasing number of domestic mines into a cut, the main ore producing areas such as Hebei Province, the operating rate has dropped to 60%.

Albanese pointed out, there is still room for profit in the current ore prices, Rio Tinto. However, he did not disclose the average cost of mining ore Rio Tinto.

It is understood that, "two extension" mining giants in Australia and other places to find quality mining resources are mined, the production cost of only 40 to 50 U.S. dollars / ton. Therefore, the industry is expected to downlink under the current market, the foreign mining giant is likely to increase production efforts to seize the market share of the domestic mining through price cuts.

According to the latest statistics of the new route west, the domestic steel mills also have increased the proportion outside the mine, almost stopped purchasing domestic ore, some steel mills imported ore ratio even increased to nearly 100%.

Funded mine risk
Of course, not all of Australia's mining enterprises, have "two extension" so good luck.

Minerals Council of Australia has said that the international iron ore and coal prices due to the recent sharp decline, as well as rising mining costs, some Australian mines began to re-examine their investment plans, about $ 246 billion in mining investment risk is increasing, and nearly half of these projects has been put on hold, or may be postponed.

$ 246 billion in investment projects, including 33 iron ore projects, 73 coal projects. Minerals Council of Australia, said the current iron ore mining project (excluding the Pilbara have been completed and the project) costs are much higher than the global average of 75% higher than the cost of the coastal mine cost.

Above mining investment projects were shelved or postponed, many from the investment of Chinese enterprises.

As early as in 2008 to 2010, CITIC Pacific, China Steel, Wuhan Iron and Steel, Anshan Iron and Steel, including domestic enterprises to Australia a number of investments, or the shares of local mining enterprises, or to direct the development of the mining area, however, many of the projects so far failed to put into operation, such as steel Weld Range iron ore project, CITIC Pacific's Sino-Iron iron ore project, as well as Anshan Iron and Steel in Karara iron ore project.

In the second half of last year, the Steel Group announced a pause in the Weld Range iron ore project in Western Australia, the scale of investment of 20 billion Australian dollars. This project originally planned 2013 annual output of mines, is expected over the next 15 years, an annual output of 15 million tons of iron ore. "Australia's central and western regions of the mine investment cost is relatively low, but low ore grade, and infrastructure are not perfect, which there are many uncertainties and risks." Insiders told an international mining giant enterprises in China reporters, iron ore from exploration to mining, is a long-term process to spend a lot of money, will eventually need to get a return from the ore sales. Not to mention the risk of mineral exploration, only from the construction of the mine production to full production, it normally takes 5 to 8 years.

The CITIC Pacific heavily in the acquisition of large magnetite project in Australia, the same dilemma. In March 2006, CITIC Pacific to spend $ 415 million, the entire equity interest in the company bought Western Australia two has 10 billion tonnes of magnetite resources exploitation rights Sino-Iron and Balmoral Iron project originally planned a total investment of $ 4.2 billion, put into operation in the first half of 2009.

The start of project implementation, CITIC Pacific, only to find that the original budget is not enough, and because of the greater difficulty of exploitation, commissioned repeatedly postponed. Now, this time of trial operation of the project, and from the end of August, postponed until November. And even if the project is put into production, the industry of its earnings outlook is not optimistic, because mining cost of this project is likely to be higher than $ 100 / t.

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Australia's iron ore exports to China increased by 11.8% in August

Reportedly Australia's Port Hedland iron ore shipments to China in August from the previous month growth of 11.8%, Japan imported 2.38 million tons of iron ore in August, July, imports amounted to 2.15 million tons, out of South Korea in Augustcargo of 271 tons, 150 million tons in July. While iron ore prices slipped, but iron ore exports remains a leading indicator of industrial activity in China.

According to statistics, in Australia's iron ore shipments to China rose to 16.72 million tons in August from 14.95 million tons in July. August iron ore price hit its lowest level since October 2009, mining companies and commodities traders said that the main demand by Chinese steel mills continued downturn.

Economic slowdown in China, the iron ore is one of the industrial commodities among the hardest hit, more than 62% of the iron ore prices last week hit $ 86.7 per tonne, the lowest record the past three years. The high point of the index since February 2011 has fallen by more than $ 100, fallen by more than a third of this price.

Australia is the largest source of imported iron ore in China, followed by Brazil. August Hedland Port overall iron ore shipments to 22.78 million tons, an increase of nearly 17%, compared to 19.5 million tons in July. BHP Billiton is the largest user of the port, followed FMG.

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Iron ore imports in August liter price drop the future ore price rebound was not much room for

Customs statistics released on September 10, China's iron ore imports in August rose price drop. Industry researchers noted in this regard that August imports of iron ore prices plunged, much larger than the same period of domestic ore decline, relative prices have obvious advantages, this domestic steel mills have increased the amount of imported ore for domestic ore almost stopped purchasing some steel The factory imported ore ratio even increased to nearly 100%.

The data released by the General Administration of Customs, China's iron ore imports in August was 62.45 million tons, a monthly increase of 7.91%, the average import price of 129.83 U.S. dollars / ton, a decline of 3.69%, a record low since June 2010. January to August, China's imports of iron ore, 486 million tons, a year-on-year growth of 8.7%; imports an average price of 137.6 U.S. dollars / ton, down 16.6%.

Analyst, told reporters that more significant decline in the prices, as well as feel the expected market for the traditional peak season. However, Hu Yanping Judging from the recent market, even recently rebounded, but the space doubtful, PB fines of 62%, for example, short-term rebound to $ 130 would mean good wishes.

The researchers expect domestic iron ore price has fallen below the cost of production of the mine, a lot of mines and processing plants have cut production, the late steel difficult to continue to keep the prices down. Larger spread inside and outside the mine, the steel mills in the case of no significant drop in crude steel production, the latter will increase imports of ore procurement efforts, expected recently imported ore price is expected to rebound slightly. However, in the case of obvious pressure port stocks are still at a high level, the overall market oversupply, the price of iron ore a sharp rebound is unlikely.

Customs Letters statistical data also show that month to achieve a net exporter of crude steel of 3.17 million tons, a decrease of August, China's steel exports 4.24 million tons, slightly reduced on a monthly 80,000 tons; imported 1.2 million tons of steel, the chain increased to 40,000 tons; 3.9%. The data also showed that the 1-August total exports of 35.79 million tons of steel, a year-on-year growth of 8.6%; 9.32 million tons of steel imports in the same period, a year-on-year decline of 12.3%.

In this regard, the analyst believes that August steel exports qoq little change expected, after all, belong to the traditional off-season in July-August, coupled with the domestic steel prices stumble endlessly, to some extent, affect foreign buyers purchasing wishes.

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Development of mineral in Vietnam to fulfill their environmental obligations

According to Vietnam "Investment News" reported on September 7, Vietnam Resources and Environment Ministry will soon introduce the new provisions of the Mineral Development, intended to compensate for the vulnerability on the environmental aspects of the decision 71 in 2008.

Under the new regulations, the rights of the mining companies to protect, restore and improve environmental obligations closely integrated, can not escape environmental responsibility. Any enterprise or individual intends to invest in the development of the mineral, the environmental impact report shall be submitted to the government departments, recovery and undertaking specific programs to improve the environment, and pay a special environmental fund. The projects being implemented to supplement the above documents. Enterprises that fail to fulfill their environmental obligations, suspend business for rectification and even the development license revoked.

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Continued Calls Put CITIC Pacific expected short-term iron ore price continued to fall

Since UBS issued a research report that CITIC Pacific announced its interim results on August 16, the share price has plunged 20%; iron ore prices continued to fall, short-term investors will remain negative sentiment on the stock. The bank to maintain its "sell" rating, target price of 7.5 yuan unchanged.

The iron ore price has dropped to $ 87 per ton, down 38% from mid-June high of 140. The the UBS mining team expected, the short-term ore prices will fall further before the end of the peak season, October will be the most difficult month of iron ore prices.

UBS estimates that the total cost of iron ore spot per ton of 90 Australian dollars, the CITIC Pacific EBITDA (interest, taxes, depreciation and amortization profit) remains positive (A $ 4 per ton), EBIT (EBIT) presented loss. If EBIT breakeven, it is estimated that the price of iron ore long-term needs up to $ 100 a tonne, while UBS's long-term price forecast of $ 72 per ton.

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The Qingdao Port ninth Refresh iron ore unloaders world record

Recently, the Qingdao Port in just 28.5 hours successfully completed "Glorious" round the whole ship 203,000 tons of South African miner unloading task, a single vessel unloading rate of 7122 t / h higher than the previous record of 11 t / h, 19successful refresh of iron ore single the ship unloading world efficiency.

Since August, the Qingdao Port, giving full play to the daring Ganpin courage for class spirit, actively overcome the typhoon, heavy rain and other inclement weather, the cadres and workers to work together, Zhangao Wen, bucket scorching heat, constantly challenge to the new production record. "Glorious" round for the very large ore carriers, cabin deep Breadth, more difficult to carry out loading and unloading exist, be responsible for ore production cadres and workers of the former Hong Kong companies working overtime, frontline command, management posts in place, well organized, and ultimately to a minimum of manpower the least mechanical successful refresh the world record.

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August iron ore prices decline significantly accelerated test a low of imported ore

In the case of slow economic growth at home and abroad, the domestic steel market continues to slump run steel mills for iron ore procurement increasingly cautious decline further, making the demand for iron ore demand remains sluggish repression, August iron ore stone market is still vulnerable to run, whether imported ore domestic ore prices showed a downward trend accelerated. Especially imported ore prices fell significantly deepened its decline was less marked than domestic ore.

Iron ore prices continue to accelerate test a low

In August, the iron ore prices accelerated test a low, part of the mainstream varieties price has fallen to the lowest point since the second half of 2009. "My steel net" The latest statistics show that as of August 31, iron ore Composite Index was 123.2 yuan / ton, down 10.14% compared with the previous month, compared with the same period last year fell sharply to 37.74% decline in the previous month significantly increased. Mysteel composite index of imported ore at 99.7 yuan / ton, a decrease of 19.66% compared with the previous month, a significant decrease of 44.3% compared with the same period last year; the Mysteel domestic ore composite index of 134.1 yuan / ton, and last month compared to a decrease of 6.29%, a significant decrease of 34.39% compared with the same period last year.

Imported iron ore market all the way to plumb: the downturn in the steel market dragged down imported ore price continues to fall and the decline and fall speed showed enlarged trend in August, and so far the market is still no significant signs stabilized.

External disk market, mining tender in August continued to increase, and mining tender and transaction prices are constantly new lows. The futures market offer only a handful of lower steel mills will of the disk access, the futures market prices continued to accelerate to plumb mainstream varieties prices have fallen below $ 100 / t mark, the prices of individual species and even dropped to 90 U.S. dollars / ton. According to the Mysteel "monitoring data show that as of August 31, PB powder Index offer of 90 U.S. dollars / ton, down $ 28 / t compared to the end of July; 63% bar crude index quotes 89 U.S. dollars / ton, compared with the end of July, down 29.5 U.S. dollars / ton; 63.5/63% Indian fines Index price of 98 U.S. dollars / ton, down 26.5 U.S. dollars / ton, compared to the end of July.

The spot market, with the the outer disk mines tender prices remained low, the spot market businesses pessimism exacerbate turnover is more difficult, the pressure part of the funds businesses have low Paohuo to abruptly that the spot market price of imported ore port. The Mysteel monitoring data show that as of August 31, the Qingdao Port, 63.5% grade Indian iron ore fines price of 720-730 yuan / ton, 61.5% grade Australian iron ore fines price of 625-635 yuan / ton, 64 % grade Brazilian iron ore price of 660-670 yuan / ton, down 200 yuan / ton, respectively, as compared to July 31, 210 yuan / ton and 205 yuan / ton.

Enlarge domestic iron concentrate local decline, but the decline is still less than the imported ore: August imports of iron ore fell rapidly increased pressure makes the domestic iron ore market, the overall market decline does not change, the local market fell significantly enlarged. Ben monitoring data show that as of August 31, the domestic iron ore prices in the mainstream market continued to fall compared with the July 31, a drop of 25-105 yuan / ton, down widened compared to last January, but still small on imported ore declines. Among them, the the Shandong region 65% iron concentrate prices quoted 985 yuan / ton, down 105 yuan / ton in the end of last month, the decline was less marked increase. And Hebei region earlier this month by the rainy weather affect iron concentrate resources shortage, emergency steel inventories, a slight increase in the purchase price, so this month's pre-of Tangshan iron powder prices appear slightly pull up, but has a limited impact on the market as a whole, its price still continues decline, but the decline has slowed.

With the continuing decline of the steel market, the purchase price of the steel mills on iron powder continued to suppress local area steel mills frequently cut the purchase price of iron powder, the individual steel mills iron powder within one month of the purchase price reduction of $ 145 / tons, and some steel mills explicitly announced that will stop purchases of domestic iron concentrate, and promote these to some extent the decline in the price of iron powder.

However, steel mills, and again and again to keep the prices down mines and businesses find it difficult to accept current price, their shipments will decline more obvious, some choose closure library Sale. And the current market price of the domestic ore have arrived mine mining costs less, many domestic mine production declining profitability have selected discontinued According to statistics, currently 50 mines operating rate has dropped from 90% to about 62%. While by domestic mine shutdowns and steel mills overhaul, iron ore supply and demand in the short term will be somewhat improved, there will be some support late domestic ore price movements.

Inside and outside the mine to gradually increase the price difference: With the sharp decline in prices of imported ore, imported ore and domestic ore price difference has been gradually expanded. According to the monitoring data show that, as of August 31, Tangshan iron concentrate of 66% of the tax base is not included quotes 790-800 yuan / ton, Tianjin Port 63.5% Indian iron ore fines price of 750-760 yuan / ton, 61.5% of PB powder offer 700-710 yuan / ton, 63% bar crude quotes 705-715 yuan / ton.

It can be seen that the current the domestic mining low-cost advantage has been gradually disappear, and the cost advantage of imported ore is increasingly prominent. The leading steel mills have increased the ratio of foreign ore procurement enthusiasm of domestic iron concentrate is dropping lower and lower. The research shows that the ratio of imported ore has gradually increased to about 90%, by the end of last month, 84% of individual steel mills outside the mine has reached 98% ratio.

However, due to the lower production costs of foreign iron ore miner, even if the price drops, but the profit margins of the mining enterprises is still large. Domestic mine production costs are higher, with the imported ore prices continued to slump, its profitability declined, some high-cost mines living space will become very small, facing the risk of being squeezed out of the market.

Spread panic mentality, the transaction is still in the doldrums: With iron ore prices continue to accelerate test a low market businesses panic mentality spread, most merchants said the iron ore market is not optimistic about the trend of late, are more cautious procurement, resulting in the iron ore market as a whole The transaction is still in the doldrums.

Ore price fell from the downturn in steel prices

Ore price fall which are rooted in the industry view, the steel price slump dragged down. August domestic steel prices continued to decline, has hit the lowest level in nearly three years, steel prices continue down Forced iron ore prices fell again and again. According to the monitoring data show that, as of August 31, the steel mesh steel composite index was 128.3 yuan / ton, down 6.05% compared with the previous month, fell sharply by 27.54% compared to the same period last year, the decline in the previous month deepened . According to a steel trader said, "At present, some varieties of steel even under cost transactions."

It is reported that, due to the slowdown in U.S. economic growth, the European debt crisis is still no sign of abating, China's export growth remained low. In July, China's exports grew by only 1%, the lowest since February of this year. The same time, from the the July domestic economic data continued to show a slow decline in the current economic situation, the second quarter of domestic GDP growth of 7.6%, the lowest level in nearly three years since. Major steel industry growth continued to fall, the real estate regulation does not relax no significant improvement continue to drag on investment in fixed assets, large-scale investment in infrastructure such as railways, highways, above-scale industrial added value continued to drop, automobiles, home appliances, machinery industry growth rate is still low wandering. Under the influence of the above factors, the market demand for steel continued to light market turnover in the doldrums to promote steel prices continue to decline, and thus hurt the iron ore businesses have cut iron ore quotations.

Oversupply is the main cause of

According to market analysts said the main reason for the decline of the price of iron ore is still oversupply. Current domestic port stocks continued to climb, the total inventory is still hovering at a high level. According to the statistics show that as of August 31, 2012, the 30 major ports in the country's total iron ore stockpiles at 98.18 million tons, an increase of 44 million tons compared with 97.74 million tons in July 27, a slight increase from last month 0.45%.

At the same time, in the case of market supply pressures continue to increase, the demand for iron ore market has continued to shrink. It is reported that, since 2008 by the financial crisis, China has increased infrastructure investment in the iron ore market in March 2009 re-warming, and all the way to skyrocket. However, with the slowdown of economic growth in China, the release of some of the major steel industry needs to slow demand for iron ore is also a significant slowdown.

Moreover, since the beginning of August, overhaul the range of steel production continues to increase, according to incomplete statistics, as of August 31, site statistics 163 steel mills in the country has 56 steel mills to determine the shutdown or overhaul. With the maintenance shutdown of some steel mills, steel mills on iron ore purchase a further contraction in demand, which makes the demand for this on the iron ore market downturn worse.

Visible, the iron ore market is still oversupply shipping business pressure pessimistic mentality still result in iron ore prices continue to accelerate to plumb.

The late prices will continue to fall

China's economic growth rate slowed down, steel prices continued to decline, steel mills profit situation has not improved, the losses appear before expanding trend level of profitability as of August 31, Ben survey of 163 samples of steel mills, of which 85.89% at a loss state, while earlier this month the data was 76.9%. And on the one hand, the demand for steel off-season, the other hand, China's crude steel production has not slowed down - in early August, China's average daily crude steel production reached 1.97 million tons, the market supply and demand imbalances in the short term is difficult to solve.

The role of the above factors, it is expected that the steel market in the short term will continue weakening trend, while steel prices continued Zoudie ore price will be difficult to form an effective support, or will continue to be a drag on the price of iron ore Zoudie. The same time, the decline in iron ore prices will decline in the cost of steel, which will further promote the steel prices edge lower, which in turn further drag on ore price.

At the same time, with steel production, the scope of overhaul and gradually expand, decline in demand for iron ore, iron ore port stocks are still in the rising demand no significant improvement in the situation, the channel, iron The ore market oversupply situation is unlikely to change, in this case, the iron ore prices will continue to fall.

However, with the arrival of the steel market, the traditional shopping season in September, Sept. downstream demand is expected to slow to improve. Gradually relaxed as the face of domestic policy, infrastructure investment to further accelerate in the late, plus on the latter part of Europe and the United States and other major economies is expected to introduce stimulus policies will improve the short-term demand for iron ore, a certain price of support, but by the impact of the sluggish growth of the real economy, its level of increase is limited.

Comprehensive view, the fundamentals and policy side of the iron ore market is still weak, short-term prices are still likely to continue downward, but the price declines may be limited.

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July iron ore exports increased by 18.7% compared to the same period in 2011

According to Ukrainian media reports, the Ukrainian iron ore exports in July compared to June increased by 15.6% to 3.3 million tons. Which not sinter ore exports rose by 17%, an increase of 29 million tons to 200 million tons; sintered ore export growth of 13.4%, an increase of 154,000 tons to 1.3 million tons.

July iron ore export growth of 18.7% compared to July 2011, an increase of 52.1 million tons.

Ukrainian iron ore exports from January to July 2012, an increase of 5% compared to the same period last year, an increase of 980,000 tons to 20.427 million tons, with exports of $ 1.92 billion.

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September 3, the price of tin early assessment: the domestic PMI for the first time below "50" constraining Lun Tin prices

Review of Trends:
Last Friday earlier released by Eurostat, in July of the 17 member states of the euro zone, the number of unemployed increased by 88,000 to 1,800.2 million, the highest level since January 1995, data on the euro zone debt crisis on the real economic impact as well as economic recovery hopes slim inhibited Lun Tin trend, however, Bernanke speech to boost the popularity of the prices of non-ferrous metals prices market on a global central bank governors meeting, he said, the United States will be necessary further action to stimulate the economy to grow faster, the market expected the Fed may launch a new round of quantitative easing policy warming, support Lun tin recover some losses, closing at $ 19,500 a tonne, down $ 80, a decrease of approximately 0.41% .

Today's market and forecast:
China announced its August official manufacturing PMI data for the first four months of consecutive decline, and below the 50 dividing line for the first time since, triggering market fears of China's economic recovery momentum, this will to some extent on the bad metal trend, However, the global central bank governors meeting, Bernanke's remarks boosted the market sentiment, or to support the Lun tin price rebound.
Currently on the market downstream receiving goods less strong market sentiment, traders said shipping difficulties, thin trading, today's spot price is expected to continue to decline slightly.

Latest Market Focus:
1 Beijing time on August 31 evening news, Bernanke's speech in Jackson Hole is not implied QE3, still said that the Fed has prepared the necessary monetary stimulus measures, but did not mention.
July of the 17 member states of the euro zone, the number of unemployed up by 88,000 people, to 1,800.2 million, creating the highest level since the data compiled for the first time in January 1995.
Announcement jointly issued by the China Federation of Logistics and Purchasing and the National Bureau of Statistics on Saturday, Aug. official purchasing managers' index (PMI) fell to 49.2, a record nine-month low. This will be the official PMI fell below 50 for the first time since November last year, nationwide manufacturing activity into a shrinking.

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