Are the Import Export companies affected by the global economy?
Certainly, the answer is both yes and no. In fact, import export companies are as affected by the current trend in their own region. Some of these companies are doing extremely well; whereas, others are suffering serious decline in revenues. In some countries, import companies succeed. In others, export companies prosper. Despite this disparity, the 'iron age' is the only industry that stays steady. It never experiences decline, despite the fluctuations in iron ore prices. Yet, there are signs that this trend may be weakening as several of iron ore companies have been closed in China.
In particular, China iron ore prices have declined 20 % from their 2008 price. In fact, the Chinese iron ore industry has contended with unstable iron ore prices for several years. The current worldwide economic crisis is contributing to even more rapid fluctuations. Yet, the economy is not the only culprit causing this unsteadiness. Some sources close to the situation say that the Chinese have engaged in wrong negotiations. Of course, it is crucial to the import export companies to have stable iron ore prices. Yet, that can only happen if CISA (China Iron and Steel Association) works harmoniously with the international trends and negotiations.
Import export companies worldwide are diversely affected by the state of economy. Yet, the iron ore industry itself is in no danger of a sector wide decline, despite the variable prices of the commodity.
Iron ore world news
WA Gov. gives Anketell deepwater port the green light
Editor: From: miningaustralia Click：19 Date: 2010-03-05 09:56:37
The Western Australian Government yesterday approved the proposed Anketell site for a new deepwater iron ore export port for the Pilbara region. (read more)
Iron Ore Prices Drop as Steel Market Suffers
Author: Brittany Hickman
June 15, 2009— The steel market has seen dramatic price reductions in the past few months. In this faltering economy, iron ore prices are alarmingly low compared to last year. Slashed steel prices have caused the top three steel producing companies, Vale of Brazil, BHP Billiton of Australia and Brazil, and Rio Tinto of Australia, to make some serious changes.
Announced last week, Rio Tinto and BHP Billiton merged to form a single steel producing super-giant. They signed a non-binding contract on June 9 to solidify their production joint venture. Splitting their assets fifty-fifty, Rio Tino comments, “The joint venture will encompass all current and future Western and Australian iron ore assets and liabilities.”
However, not everyone is a fan of this consolidation. On Tuesday, the China Iron and Steel Association (CISA) stated their opposition on their web page. "The joint venture agreement has a strong monopolistic color and Chinese steel mills will resolutely oppose the agreement." China is hugely impacted by this joint venture, due to the fact that they are Australia's leading buyer of iron ore. Since 2000, China has been responsible for 70 percent of steel growth rates and consume half of the global iron ore output.
Iron ore prices initially began dropping earlier this year. In May, Rio Tinto reported cutting sales by one-third by request of Japanese steel mills. Chinese mills were asking for a 50 percent cut, which was eventually negotiated to 37 percent.
Australia, where a majority of our iron ore is produced, reported a 91 million dollar deficit in April. This was the first deficit recorded in nine months. Despite this, Australia's economy still grew 0.4 percent, much higher than the predicted 0.1 percent.
While iron ore prices have not changed dramatically, thermal coal sales hit a high of $192/ton in July of last year, and have now plummeted to $68.1/ton.
So how will all this affect you, the consumer? With the construction and automotive industries already in distress, GM and Chrysler workers may expect a few more layoffs in the near future. Prices of construction may rise, and jobs may be lost. Refrigerators, toasters, and other such appliances may begin to fluctuate in price.
Now, more than ever, finding the right steel supplier is crucial. Capital Steel and Wire, located in East Lansing, MI, promises honest dealings and an “old-fashion,” friendly approach. Capital Steel supplies steel bars, wire rod and steel rods. With a wide knowledge of the global steel industry, they can help you to understand what is happening in the world of metal, so that you may make the best decision for you. To learn more, you can reach Capital Steel by web at http://www.capitalsteel.ne.
About the Author:
Brittany Hickman Public Relations Intern Netvantage Marketing
Article Source: ArticlesBase.com - Iron Ore Prices Drop as Steel Market Suffers
Tata Steel sees iron ore prices rising
By Poornima Gupta
SAN FRANCISCO (Reuters) - Iron ore prices are headed as much as 35 percent higher this year and will likely pressure the profit margins of steel companies, Tata Steel Ltd Vice Chairman B. Muthuraman said on Tuesday.
"I don't know where it's going to settle down, but it does look 25 percent to 30 percent to 35 percent higher," he said in an interview. "It may be possible that the steel prices may not go up by that much."
"This means the steel companies will come into margin pressure," he added. The iron ore prices are typically set each year following negotiations between big suppliers -- Vale, Rio Tinto and BHP Billiton -- and large steel mills. Muthuraman said he expected the negotiations to wrap up in the next two months.
HUNTING FOR COAL, IRON ORE SOURCES FOR EUROPEAN UNIT
Muthuraman said he expects growth for the company to come from Southeast Asia and India. "In India, we are going up to 10 million tonnes by next year," he said, referring to capacity. Tata Steel's total global capacity is about 30 million tonnes, with its European unit Corus contributing tow-thirds of the capacity. India currently accounts for about 7 million tonnes. Tata Steel has been trying to cut costs by rationalizing operations in Europe and reworking interest costs.(...)
Muthuraman said the company continues to hunt for more sources of iron ore and coal for the European unit. "As far as Europe is concerned, we are aiming to make that plant more competitive," he said. "We are aiming to own raw materials around the world. We want to make it more efficient, in terms of putting in better systems and processes," he added. "I think in 5-6 years time, our European operation will become as efficient as our Indian operation."
The top Import Export Companies in Canada.
We connect continents through Commodities through better iron ore prices.
Svah Traders Inc. is a world wide import export company based in Vancouver, British Columbia, Canada. With well established resources in the countries like Canada, United States of America, Philippines, India & Brazil, Svah Traders Inc. provides prime quality service and products as well as best iron ore prices available on the worldwide market. All the products are certified thoroughly by ACME Analytical Laboratories Ltd., 1020 Cordova St. East Vancouver BC V6A 4A3 Canada, SGS Testing in Ontario at 185 Concession St. Lakefield, Lakeview, Ontario, KOL 2HO and various SGS laboratories around the world. As one of the top Canadian import export companies, Svah Traders Inc. stands out through its innovative research style and rich resources across the globe. For this reason company's iron ore prices, manganese, chromite prices, timber & lumber prices are very competitive.
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| Timber | Lumber | Iron sand | Iron fines | Iron ore | Chromite | Manganese |
About Richard Singh, the founder & operations manager of Svah Traders Inc.
Being born and raised in Vancouver, Canada, and having his ancestry in Asia, Richard intuitively understands business culture and mentality of both East and West. His in-depth business/economic education and experience is his forte. Richard was the manager/retailer & trainer for Petro-Canada head office (BC) and has achieved, across Canada, awards like: "Best in Class" and "Presidents' Award" for his non-authoritative leadership style.
In a short time Richard has developed an exceptional relationships based on his loyalty, trust and ethics within the business community. His goal is to create a resources based enterprise to link other import export companies, miners, manufacturers, producers and wholesalers, to explore and offer new iron ore prices among other.
Despite the current situation in the iron ore world Richard as an independent supplier can offer iron ore prices that are hardly found anywhere else.
This is important for all successful import export companies.
About Raju Sheth, operations manager for India & Africa
An intelligent and adaptable entrepreneur with extensive skill-set underpinned by work experience in environments demanding self-motivation and a focused approach. He has proven multi-disciplined, management skills and a major player in numerous operations and projects. He has been actively associated with one of the world’s largest Tube well drilling Company as well as some other drilling projects in Muscat, Oman. Raju has led the management of a Power Project by a U.S. based company called Dodson Lindblam. He also owned and successfully ran Yarn Spinning and Textile Mills in India and Import Export business of Cotton, Pulses and Minerals. His management style, whilst empowering, developing and encouraging a development and focused approach is his forte.
With a comprehensive study and wide experience in the import export business and international relationships, Raju has a vision to provide resources to other import and export companies worldwide and contribute globally. He has a large social and professional network to work with in safe environment and aims to foster strong future bonds between India and other countries.
About Amit Sheth, marketing and business development manager for India and Africa
A young, dynamic and adaptable entrepreneur, with comprehensive skill-set, underpinned by work experience in challenging work environment in India and UK . Amit coined his partly qualified ACCA certification from London along with BSc in Applied Accountancy, Oxford Brookes Universtiy. He, thereafter proved his management skills after finishing his MBA in London.
Amit has worked as an auditor with London based Stock Auditing Co. after working as an intern with Deloitte. He then moved on with an opportunity to work with BAA Heathrow, London and was awarded with special recognitions like Employee of the Month, Star of the Company and God of Heathrow. Amit proved himself time and again with his impeccable communication and business skills which encourages cohesion and commitment through the identification and development of potential. Amit has a fresh, energetic and professional approach towards work and provides with business opportunities with his comprehensive marketing and flourishing business development skills in the world of International trade and business.
Hebei wants unified iron ore imports
by chinamining
in News / Business News (submitted 2010-03-02)
Hebei Iron and Steel Group has proposed to the Ministry of Industry and Information Technology (MIIT) that a national iron ore company be formed to centralize iron ore imports, according to sina.com.cn.
A senior executive from the nation's second largest listed steel mill, said the new company would consist of the 16 large steel mills in China, each with an annual capacity of over 10 million tons. It would also unify import prices and distribute iron ore by ownership ratios.
"Such a move would enhance the nation's bargaining power at the annual iron ore negotiations with the big three global miners - Vale, BHP Billiton and Rio Tinto," the source said.
Hebei Steel Vice-General Manager Tian Zhiping, however, said on Monday that he was unaware of any such proposal.
The plan comes at a time when spot prices of iron ore have soared to a record high in the Chinese market and the China Iron and Steel Association (CISA) is insisting on a unified price.
Luo Bingsheng, vice-president of the association, said last month that reducing the number of licensed importers and promoting the agent system at a unified price for iron ore will be primary targets for CISA this year.
Under the suggested plan, agents can levy a commission of 3 to 5 percent on the total iron ore import charges collected.
He said China must strive for a unified iron ore price for all imports to regulate the market, and erase the differences between long-term and spot prices.
Luo said the ministry has concurred with the CISA on the need to tweak the regulations for iron ore imports.
Spot iron ore price hit a record high after the Spring Festival holiday, putting further pressure on the 2010-11 contract talks that are scheduled to start on April 1.
Prices of the 63.5 percent iron-content ore rose to $142 per ton including freight on Monday, according to Mysteel Index, more than double the $60 a ton benchmark price level reached in 2009.
China is committed to increase steel production this year to 621.5 million tons, and steel mills have been increasing iron ore imports to meet rising demand, boosting expectations of an increase in the annual contract prices.
Investec Securities Plc last week raised its forecast for 2010 iron ore prices to an increase of over 55 percent compared with a 20 percent hike earlier.
BHP has already indicated that the annual contract prices should be linked more closely to the spot market rates. Vale, on its part, said it expects to secure a contract price for 2010 that reflects the current spot rate.
"The Hebei proposal aims to enhance import concentration to gain more bargaining power at the ore talks. However, the same can be achieved by consolidating steel mills, and I think that would be an easier step," said Hu Kai, a senior analyst at consulting firm Umetals.
More to:http://www.cnmining.org/
About the Author
chinamining
Jayde Online, Inc. © 2010, All Rights Reserved.
Where was iron ore found?
Iron ore is found in many places around the world. In the United States, it was the Mesabi Range of northeastern Minnesota. That deposit was found in 1887, and it is one of the main reasons why the United States became such an industrial power over the following century. The huge range had rich ore, up to 3% iron, was not good for farming. U.S. Steel and Bethlehem Steel (which no longer exist) smelted its ores whith coal (coke) from the Appalachias and limestone from as far as Texas. Huge railroads infrastructure build to support this industry built this nation.
Other countries such as South Africa, Angola, Indonesia, Malaysia, India, Brazil, Guatemala, Philippines and Australia are also rich in iron ore. Source(s): http://geography.about.com/library/misc/...
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