Domestic iron ore costs three times higher than mines

On November 4th, the "14th China International Mining Conference" was held in Tianjin. Despite the global economic downturn, the steel industry was "extremely cold", but it did not affect the market's enthusiasm for mining. Come, the big main venue is called "explosive". It is worth mentioning that in the iron ore special forum, industry insiders revealed that the domestic iron ore development cost is about three times that of the outer mine, but the average grade is declining. Domestic iron ore development costs High domestic mines are the main force to check and balance the international iron ore market. Under the conditions of protecting the ecological environment, the mining cost should be reduced as much as possible, the supply of iron ore market should be increased, and the balance of domestic mines should be exerted. However, domestic mines are facing high cost. At this meeting, the mining cost of domestic mines was too high, and some people said that the cost of domestic mining is even as high as three times that of foreign mines. Previously, the industry's domestic iron ore development costs have a variety of claims, as low as 80 US dollars per ton, the relatively high data is 120 US dollars per ton. However, Luo Yongjun, deputy prime minister of Sinosteel Mining Development Co., Ltd. said that according to the situation of Sinosteel, the domestic iron ore development cost accounts for the majority of less than US$100 per ton, and it is estimated that one-third of the production will cost 100 US dollars. Above, "This is the estimated cost price. In fact, the conclusion is between $100 and $110." Li Xinchuang, deputy secretary-general of China Steel Association and president of China Steel Metallurgical Planning Institute, said that the domestic iron ore development background is complex and the cost of various mines is different. However, the development cost of foreign iron ore giants It has been between $30 and $40 and has huge profit margins. Not only that, but the cost of domestic iron ore mining has not only declined but has risen in recent years. Macquarie Commodity Research said in a report in June that the cost of iron ore mining by Chinese miners has increased this year. 5%-10%. With the international iron ore price plummeting since the second half of last year, most domestic iron ore development companies have experienced a round of life and death tests, and even triggered the China Steel Association's rescue speculation. The ore dependence on the minerals exceeds 50%. Luo Yongjun said yesterday that the 12th Five-Year Plan of the Iron and Steel Industry proposed that the peak demand for crude steel in China may occur between 2015 and 2020, with a peak of about 770 million tons to 880 million tons. Since then, the peak will remain for a period of time. For this reason, the demand for iron ore from Chinese steel is still very large, and the simple calculation will reach 1.152 billion tons. However, it is worth noting that although China's iron ore raw ore production has been rising, from 217 million tons in 2001 to 1.327 billion tons in 2011, the compound annual growth rate is 19.9%. However, domestic mines have low grades and high mining costs, which ultimately leads to a serious dependence on iron ore demand in the international market. “In 2003, the average grade of domestically produced minerals was 40%, and the average grade in the first half of 2012 was only 25%,” said Dong Chaobin, president of Beijing International Mining Rights Exchange. Data show that in 2011, China's iron ore imports reached 668 million tons, and the compound annual growth rate reached 22% in 10 years. In this way, the import volume has increased substantially, and the dependence of iron ore on external dependence has increased. In 2011, the external dependence of China's iron ore reached 56%. In fact, the industry expects domestic mines to have a dual impact on the iron ore market. When international iron ore prices rise, profits increase, domestic mine supply increases, thereby suppressing and weakening the increase of international ore; when international iron ore The price fell, which is lower than the iron ore production cost in China. The domestic mining enterprises generally suffer losses, and the domestic mine supply declines overall, thus supporting the iron ore price. However, the high dependence on the international market and the low cost of high-quality mining of domestic mines have led to the limited effectiveness of domestic mines in balancing international mines.

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