Rejecting the Chinese market is a rather difficult decision for the world economy, but this difficulty is clearly not a problem for Indians. In the past year, India has adopted at least three ways to restrict the export of iron ore to China in disguise. As a result, the share of Indian ore in the Chinese market has dropped to 14.9% in the first half of this year, and even dropped to 12.8 in May. %. Experts affirmed that the share of Indian ore will continue to decline in the next few years. India used to be China's second-largest source of imported iron ore and was once the main benchmark for spot prices in the iron ore market, but now the scenery has faded. The reason for India’s refusal to export iron ore is to first meet the needs of the domestic steel industry. Many people already know that India wants to increase steel production to 120 million tons at the end of fiscal 2012, and in China, this number will be 700 million tons this year.
The share is declining year by year. Traders are not relying on the Indian mines. "We rarely do Indian mines now, with less supply and higher prices." Mr. Zheng, an iron ore trader in Rizhao City, Shandong Province, told Netease Finance. Mr. Han, the person in charge of the outer mine of Nanjing Lianlizhi Import and Export Trade Co., Ltd., directly stated that he had not done the Indian mine, and he was “not reliableâ€. The choice of Chinese iron ore traders has shunned the Indian mines, which has led to a decline in the share of iron ore from India in the Chinese market. Data show that from January to June, Indian mine exports to the Chinese market accounted for 14.9%, down 6 percentage points from 20.9% in the same period last year, and the absolute amount decreased by 15.03 million tons. Even in May, it fell to 12.8%, showing a significant decline. trend. After the rise of China's steel industry in this century, the Indian mine has been China's second largest source of imported iron ore for many years. Until 2008, iron ore from Brazil surpassed the Indian mine. Even so, in recent years, most of the iron ore produced in India has been shipped to China. In 2009, China imported the most iron ore from India, reaching 107 million tons. The Indian mine has the largest share of the Chinese market in 25% in 2005. Since then, this number has been declining year by year. Xu Xiangchun, director of information for my steel network, predicts that the export volume of Indian mines will continue to decline in the future, and the market share in China will certainly continue to decline. The lack of market supply led to higher prices. At the beginning of September, the price of 63.5% Indian powder ore outside the market has reached 190 US dollars / ton. Not only has exports declined, but the Indian mines have been favored by Chinese steel mills for their good quality and low price. However, this year, news of the uneven quality of Indian mines has been reported. The General Administration of Quality Supervision, Inspection and Quarantine reported in May that the unqualified rate of iron ore imported from India at the Jiangsu port was as high as 36.13% from January to April this year. The phenomenon of Indian mines (the drop in iron content in the ore, which is inconsistent with the original appraisal report) is well-known in the circle, which has a lot to do with the special rainy season in India, but some dealers will make a fuss about it. The production of false reports caused the domestic steel mills to be deceived. The above-mentioned trader Han said that in fact, the normal demand of Indian mines in China is still there, it is very good, and the quality is also good, especially welcomed by small and medium-sized steel enterprises. However, in the past few years, the toss of the Indian side has ruined its own business reputation. The domestic first-hand traders can still make some money, and the second-hand three-handedly cannot do so. Many traders have to choose to stay away from it.
Increased tariffs banned exports Indian mines are increasingly difficult to buy the Indian mine market share decline year by year, on the one hand, China's imports of iron ore diversification trend is more obvious, the first half of this year, China from Australia, Brazil, India, South Africa traditional four Iron ore imported outside the big countries has reached 64.63 million tons, accounting for 19.3% of the total imports. The main reason is that the Indian side has set itself the obstacle to China's increased imports. China Steel Trading Co., Ltd. internally requested Anonymous people to tell Netease Finance that the smaller share of Indian mines is mainly related to export tariffs. Sinosteel Trading Co., Ltd. has been the largest trading company in India for importing Indian ore for many years. Since the financial crisis, the Indian government has raised iron ore export tariffs three times in less than two years. The most recent one was on April 1 this year, India raised the export tariffs on fines and lump ore from 5% and 15% to 20%. The move means that the price of Indian mines caused by tariffs has risen by nearly $30. In addition, the Ministry of Railways of India also raised the iron ore freight twice this year. In 2007, the Indian government announced for the first time that it would impose tariffs on iron ore exports, using a quantitative calculation model. The fine ore and lump ore were uniformly levied 300 rupees (about 7 US dollars) per ton. This decision caused a huge controversy and rebound. Not only the domestic mines in India, the largest importer of Sinosteel Trading Co., Ltd. at the time issued a statement saying that it stopped importing Indian iron ore. In the end, the Indian government announced that it would reduce the iron ore tariff of 62.5% or less to 50 rupees after half a year. After the financial crisis, Indian iron ore tariffs fell directly to zero. The latest news is that the Indian Steel Minister said in the lower house of the Indian Parliament on August 29: "We have increased the iron ore export tariff rate from 5% to 20%, and may further increase the export tax rate." The steel mill was shocked by a cold sweat, but according to insiders of Sinosteel Trading Co., the news was only a statement of the Ministry of Steel, which was based on the premise of the restoration of exports in Karnataka, India, and this premise is obviously not established. Karnataka’s iron ore exports once accounted for a quarter of India’s total, but Chinese steel mills regretted that since July 2010, the state has issued a decree prohibiting the export of iron ore. Iron ore resources are limited, and it is hoped that the use of ore will be regulated. The export ban is also to investigate and regulate the illegal exploitation and transportation of iron ore. In April this year, there was news that the export ban had been lifted, but there was no following. The above-mentioned Sinosteel trade requires anonymous people to say that Kabon’s restrictions on exports are nominally investigating illegal mining. In fact, this matter involves too many political factors. It is the game of the Indian party, which has nothing to do with China’s demand, but it cannot predict the country. When can I release the export restrictions?
Domestic interest entanglement India's rise of steel nationalism According to official data released by India, the iron ore output in the fiscal year 2010/2011 (as of March 31, 2011) was 264 million tons, but India's measures to increase tariffs seriously affected iron. In terms of ore exports, Indian iron ore exports fell by 17% to 97.6 million tons in the 2010/2011 fiscal year. Some surveys predict that Indian mine exports may continue to decrease to more than 70 million tons in the new fiscal year. According to reports, every department in India has its own ideas, which also leads to great changes in the policy. The steel department is not willing to export ore considering the domestic steel industry demand, but some departments see that the high tax rate can increase taxes and support exports. Some officials may have shares in the mine, and they certainly want to export. Sinosteel trade demanded that anonymous people said that overall, India’s domestic demand for the international iron ore market is relatively optimistic. They also understand that Indian mines cannot compete with Rio Tinto and other three major mines, that is, to adjust the market, all can If you earn more, you will earn more. They will not take into account the importance and long-term nature of the Chinese market. Earlier, there was a voice in China that India raised its export tariffs in order to support the current high price of iron ore. The above-mentioned Sinosteel trade demanded that anonymous people believe that this argument is too far-fetched. In the past few years, only the Indian spot mine was on the market. Because of its low price and low water content, it can become a benchmark for spot prices. However, in the past few years, Rio Tinto and other three major mines have increased the proportion of spot delivery. India wants to control the price by raising tariffs. It is too possible. In the view of the Indian steel sector, the increase in tariffs is mainly to protect domestic resources and provide more raw materials for the development of the domestic steel industry. Xu Xiangchun, director of information for my steel network, said that the current Indian steel industry is very similar to China around 2000 and is about to take off, so it is entirely possible that its future production capacity will increase to 200 million tons. Reuters quoted analysts as saying that "India's iron ore exports will see a structural decline, because resource nationalism will become a bigger push behind the policy." India has planned to achieve 1.2 by the end of fiscal 2012. Million tons of steel output. In 2010, their output was about 70 million tons. Previously, China Steel Association has predicted that China's crude steel output this year will probably exceed 700 million tons, and the demand for iron ore is naturally not comparable to India. However, the reality is that the Indian side is abandoning the demand of the Chinese market. In this case, perhaps the best way is to enter India. On August 25th, China Xinhua International Group invested in an annual production of 800,000 tons of iron ore pellet plant in Natak, India. The project will also build a comprehensive steelmaking plant with an annual output of 2.5 million tons. Including supporting projects such as cast pipes and cement production plants. This is the first time a Chinese company has invested in a steel project in India.
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