At the 2014 (3rd) Iron Ore Development Summit Forum, Zhu Jimin, vice president of China Steel Association, said that iron ore prices have continued to fall sharply this year, which has limited impact on large foreign mines, but brings greater impact on domestic mines. Operating pressure, domestic mining companies should start to solve the current business problems.
Zhu Jimin said that the current decline in iron ore prices is essentially different from the short-term fluctuations in the past. The pattern of oversupply of iron ore ultimately determines the long-term sharp decline in iron ore prices. With the arrival of the “peak peak zone†of steel consumption, the demand for steel ore in China's steel industry and the intensity of demand are declining. In recent years, domestic iron ore investment has increased continuously. In 1990-2013, China's total ore investment was 900 billion yuan. Yuan, of which 700 billion yuan was invested after the financial crisis in 2008. The domestic mining industry is booming and the output is growing. The international iron ore enterprises are also in a period of substantial increase in production. In the first half of this year, Vale, Rio Tinto, BHP Billiton, FMG, etc. Iron ore enterprises' iron ore output and supply have both increased by more than 10% year-on-year.
Zhu Jimin said that due to the strong cost advantage and scale advantage, even if the iron ore price continues to decline, large foreign mines still have considerable profit margins. However, the decline in iron ore prices has caused great operational pressure on domestic mines. Therefore, the current domestic mining industry should start to solve the development problems.
Zhu Jimin said that for the domestic mining industry, subject to resource endowment conditions and domestic policy environment, it faces enormous development challenges and operational pressures. Many problems are difficult to solve by mining companies themselves, and they need to provide support and support for the state. . The long-term development plan for the iron ore industry in the country will standardize the development of the domestic mining industry in the long run. The implementation of the plan will also help solve the problems of domestic mining enterprises' tax burden, low concentration and weak competitiveness. We will use the market reversal mechanism and environmental protection pressure to achieve transformation and upgrading through reform and transformation, and to support and promote the transformation and upgrading of the steel industry.
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