Abstract On March 7, BHP Billiton, one of the three major mines indirectly named by the National Development and Reform Commission, responded by denying the adoption of “delayed delivery, controlled shipments and reluctance to sellâ€, artificially pulling up China’s imported iron...
On March 7th, BHP Billiton, one of the three major mines indirectly named by the National Development and Reform Commission, responded by denying the adoption of “delayed delivery, controlled shipments and reluctance to sellâ€, artificially pulling up the price of iron ore imported from China. The company said, “From July to December last year, the production capacity was fully invested in the production of iron ore and all iron ore was sold.†Some researchers said that imported iron ore began to rise in the range of nearly 80 US dollars / ton in September last year, and it was close to 160 US dollars / ton at the beginning of this year, "about doubling in half a year." Overcapacity and sluggish demand have made the Chinese steel industry miserable.
On the evening of March 6th, the National Development and Reform Commission released the article "The main factors of the short-term surge in iron ore prices" on the official website. In addition to the reasons such as changes in short-term supply and demand in the market, there are artificially rising factors. According to the article, “With the recovery of iron ore prices, the three major mines and some traders have delayed the delivery, controlled shipments and reluctant sales in order to make up for the previous losses, causing temporary iron ore in the market. The illusion of supply shortage." Official website information shows that the article comes from the Industry and Development Department of the National Development and Reform Commission. See the Daily Economic News 05 edition for details.
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