Nearly 2 times the newly imported iron ore demand

In the 5th “China Iron and Steel Raw Fuel Market Summit Forum”, vice chairman of the China Iron and Steel Association, Luo Bingsheng introduced that in July this year, the price of imported iron ore rose sharply by 37.79% year-on-year; China imported more iron ore than in the same period of last year. The payment of ***137.195 billion yuan was 2.1 times the profit of 77 large and medium-sized enterprises in July.

Luo Bingsheng said that in July of this year, 77 large and medium-sized enterprises in the China Steel Association reported that the profit rate of sales of products was only 3.08%, a year-on-year decrease of 0.1 percentage points, which was lower than the average of 5% of the national industrial sector and was in a state of high cost and low efficiency. . Among them, eight companies had a total loss of 815 million yuan and the loss reached 10.4%.

He believes that the high price of imported iron ore is the main reason for the inefficiency of the steel industry. In July this year, the average import price of iron ore CIF was US$162.76, an increase of 37.79%. China’s iron ore imports paid US$ 21.101 billion more than the same period of last year, equivalent to *** 137.195 billion yuan at the exchange rate of 6.5, 2.1 times the profit of large and medium-sized enterprises in July and accounting for 6.45% of the sales revenue of the steel industry.

In fact, however, the new imports of iron ore far exceed those required by China. “From the demand for steel, domestic iron ore increased 21.9% year-on-year in July, which is equivalent to an increase of 43.09 million tons of imported iron ore. According to the calculation of China’s iron and steel production in July, the amount of iron ore needed for industrial production was higher than that of the previous year. In the same period, it increased by 53.06 million tons, while the latter subtracted the former, and China’s demand for imported iron ore increased by only 9.97 million tons. In fact, the import of high-priced iron ore increased 28.14 million tons over the same period of last year, with a surplus of 1817. 10,000 tons.” Luo Bingsheng believes that there may be artificial speculation, making the current price of imported iron ore high.