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| TITLE |
On the Eve of Iron Ore Negotiation Small and Medium-sized Steel Enterprises Turn to Purchase Domestic Ore |
| WRITER |
administrator |
DATE |
2008-12-04 15:36:31 |
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On the Eve of Iron Ore Negotiation Small and Medium-sized Steel Enterprises Turn to Purchase Domestic Ore
Dec 03,2008,
BEIJING, Dec. 3 -- Stimulated by the favorable policies, the domestic steel market became warmer recently, iron and steel products prices rose. Some small and medium-sized enterprises who conducted production cut before were gradually resuming production, iron and steel enterprise demand for iron ore also increased.
Yesterday "Daily News" reporter was informed that although new year long-term ore price negotiations was about to begin, many small and medium-sized steel enterprises has changed the target of raw materials procurement to domestic iron ore company.
In recent years, the iron ore import prices of raw materials continued to rise, so China Iron and Steel Industrial Association (CISA) suggested domestic steel enterprises giving priority to domestic ore in order to reduce their dependence on imported ore.
At the call of CISA, and a number of small-scale mining enterprises powder prices were lower, a large number of small and medium-sized mines were attracted to purchase around the local steel mills, the domestic iron ore production also increased compared to the same period last year.
Analysts thought that due to the global economic slowdown, the relationship between supply and demand will change, domestic ore output continued to increase, it is predicted that iron ore price in the New Year will fall.
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