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Resource Equity Fight Exacerbate
- By Himfr Echo
- Published 12/29/2011
- Business Management
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Rio Tinto and BHP Billiton issued a joint statement, the two decided to give up in the Western Australian mining company set up for the 116 billion U.S. dollars worth of iron ore production of the company's plans. Failure by the joint venture news, stock prices crashed BHP Billiton fell 1.1%, Rio Tinto fell 0.3%.
The industry believes that Australia will be announced in May to begin in July 2012 the introduction of resource extraction class enterprise resource tax of up to 40% are to some extent hindered the joint venture plans two major mining companies.
In the commercial circulation of Productivity Promotion Center, chief analyst Chen Kexin in the 19 to accept China Economic Times reporters pointed out that Rio Tinto and BHP Billiton merger fails the basic line with market expectations, as the previous two extension merger to suffer from European regulators and strong opposition from Chinese authorities.
Analysts generally said that China will become in the short term extension of two direct beneficiaries of the failure of the merger, because if the two Billiton joint venture successfully, as the world's largest iron ore consumer and importer, China will face a more monopolistic market .
Lange Information Research Center, received the 18th analyst Zhang Lin China Economic Times interview that if the "3 variable 2" true pattern of the mining giant, will make more capability to manipulate the mining giant iron ore prices, China Steel prices in the iron ore price negotiations will be more narrow space.
Joint venture by the difficult birth of two extension, 18 steel plate homeopathic China's stock market rose sharply, by the close, clad steel plate in shares (600,010) shares, including 4 daily limit, and other steel stocks have good performance.
At present, domestic steel prices on the two extension joint venture paid little attention abortion events, the steel trading business is lukewarm, two extension joint failure has little effect on the traders.
The three major international iron ore giants Vale, Rio Tinto, BHP Billiton plans in October started the three mines of iron ore supply prices are down 10%, this is the first time this year, down three mines iron ore prices.
Recently, iron ore imports from abroad, a slight decline in the number of signs. The latest customs data show that the total iron ore imports in August fell 13% the previous month to 44.61 million tons. Chinese August iron ore from Australia imported 19.4 million tons, down 16% compared with July.
However, analysts pointed out that the iron and steel, domestic steel prices from rising iron ore prices are still quite a lot of pressure. Zhang Lin pointed out that the failed merger of two short-term extension would be mitigated monopoly of iron ore, iron ore prices but the space still exists, the interests of the world's resources will be further intensified competition, do not rule out re-start after a few years the two extension joint venture.
Rio Tinto and BHP Billiton merger is essentially a failure of the resources of the world price of a competing voice, reflecting the global prices of resource commodities Huo Jin Yang trend.
Use of local iron ore resources will ease the resource-poor fundamental way.
Although the fourth quarter of this year iron ore price agreement temporary correction, but strong demand and cost increases in the double impetus, the future price of iron ore or the shock of long-term upward trend, accelerating the development of supporting policies to strengthen domestic iron ore resource reserves, to encourage private capital participation and priority response to the world outside of iron ore resources of interest are an important step in the scramble.
The industry believes that Australia will be announced in May to begin in July 2012 the introduction of resource extraction class enterprise resource tax of up to 40% are to some extent hindered the joint venture plans two major mining companies.
In the commercial circulation of Productivity Promotion Center, chief analyst Chen Kexin in the 19 to accept China Economic Times reporters pointed out that Rio Tinto and BHP Billiton merger fails the basic line with market expectations, as the previous two extension merger to suffer from European regulators and strong opposition from Chinese authorities.
Analysts generally said that China will become in the short term extension of two direct beneficiaries of the failure of the merger, because if the two Billiton joint venture successfully, as the world's largest iron ore consumer and importer, China will face a more monopolistic market .
Lange Information Research Center, received the 18th analyst Zhang Lin China Economic Times interview that if the "3 variable 2" true pattern of the mining giant, will make more capability to manipulate the mining giant iron ore prices, China Steel prices in the iron ore price negotiations will be more narrow space.
Joint venture by the difficult birth of two extension, 18 steel plate homeopathic China's stock market rose sharply, by the close, clad steel plate in shares (600,010) shares, including 4 daily limit, and other steel stocks have good performance.
The three major international iron ore giants Vale, Rio Tinto, BHP Billiton plans in October started the three mines of iron ore supply prices are down 10%, this is the first time this year, down three mines iron ore prices.
Recently, iron ore imports from abroad, a slight decline in the number of signs. The latest customs data show that the total iron ore imports in August fell 13% the previous month to 44.61 million tons. Chinese August iron ore from Australia imported 19.4 million tons, down 16% compared with July.
However, analysts pointed out that the iron and steel, domestic steel prices from rising iron ore prices are still quite a lot of pressure. Zhang Lin pointed out that the failed merger of two short-term extension would be mitigated monopoly of iron ore, iron ore prices but the space still exists, the interests of the world's resources will be further intensified competition, do not rule out re-start after a few years the two extension joint venture.
Rio Tinto and BHP Billiton merger is essentially a failure of the resources of the world price of a competing voice, reflecting the global prices of resource commodities Huo Jin Yang trend.
Use of local iron ore resources will ease the resource-poor fundamental way.
Although the fourth quarter of this year iron ore price agreement temporary correction, but strong demand and cost increases in the double impetus, the future price of iron ore or the shock of long-term upward trend, accelerating the development of supporting policies to strengthen domestic iron ore resource reserves, to encourage private capital participation and priority response to the world outside of iron ore resources of interest are an important step in the scramble.
