As the iron ore pricing mechanism is gradually developing towards the index, the iron ore price index has also been increasingly taken into account. Major domestic and international steel information agencies have also started to work out the iron ore index. Gradually kicked off.
The “following action†of the domestic iron ore index-setting agencies has been intensive at the same time, and it seems to affect the release of the official index of the China Iron and Steel Association. The deeper reason why the multi-party institutions “grab†the iron ore price index may be that They saw the business opportunities.
China's most complete index launch
On July 4, China United Iron & Steel (hereinafter referred to as China United Steel) formally issued the "China Iron Ore Spot Price Index." Not only that, China United Steel said that this time it also introduced the import block ore index, which is currently the first block ore index in China.
It seems no coincidence that China United Steel chose to issue its own iron ore index at this time. Previously, on June 28, Platts Energy Information Corporation announced the acquisition of Global Steel Group and its TSI index. At the same time, China Iron and Steel Association delayed the iron ore originally scheduled for the end of June this year. index.
According to industry insiders, Platts’ successful acquisition marks that the future TSI index will tend to favor the Platts Index and will have a great impact on the future iron ore index system, which also caused a decline in the official index release of the China Steel Association. Small effect.
Sinosteel stated that the company chose to launch its own iron ore index at this time because the index currently being applied has a certain gap with the actual transaction price in China. From the long association model to the exponential pricing model, Chinese iron and steel enterprises have been hampered by the three major mines. After Platts’ purchase of TSI, the monopoly trend is more obvious. We now launch the Chinese iron ore spot price index to reflect China's The real price of iron ore spot market.
At present, the index referenced by the three major international mines is the Platts Index, which was published by the Platts Group, while the Platts Index is based on the 62% iron ore price of Qingdao Port as an index. There is no domestic mine at all. The element also does not reflect the true price of China's domestic iron ore, but the price of the iron ore will also differ from that of the Platts Index.
Yang Yongliang, deputy general manager of China Unicom’s e-commerce company, told this reporter: “The current global iron ore price index has a certain gap with the actual transaction price in China, and this gap is up to $15.â€
It is understood that the iron ore price index launched by China United Iron and Steel Network is currently the most complete index in China, and is derived from the weighted average of the spot prices of iron ore imports from China and the spot prices of domestically produced Chinese mines based on their respective weights.
China United Steel indicated that the samples were selected for domestic ore and imported ore, among which domestic samples were selected by 33 sampling sites in China's 15 provinces and cities with large production volume, large spot trading volume, and extensive distribution. These 15 provinces The city's iron ore raw ore production accounts for 95% of the country's total production. For imported ore, the ten largest ports with the largest domestic iron ore throughput and large-scale spot trading transactions are selected as samples.
Along with the Chinese iron ore spot price index, there is also an import block ore index, because there is no lump in the country, so China's lump mines are all purchased from the three major international miners.
Zhang Jiabin, manager of China United Iron and Steel Corps, told the reporter: “Since the monopoly of the three major miners, the imported ore is much more expensive than powdered ore, which is also the heart of the major domestic steel companies. Traders should return the virtual block mineral prices to a reasonable level based on the real spreads between lump ore and fines in the Chinese spot market."
China Steel Association is accused of being "special"
While China United Iron & Steel launched China's iron ore spot price index, many domestic iron ore consulting organizations have also launched or improved their own iron ore indexes, such as Xinhua News Agency, Steel House, My Steel Network, and Nishimoto New Former trunks, etc. have their own indices.
An industry source said that at present, domestic iron ore institutions are relatively messy, and in the long run, they will certainly affect the interests of major domestic steel companies and iron ore negotiations in the future.
According to CGL sources, currently there are many iron ore index development agencies in the world, and there is a competitive relationship among them. The survival of the fittest is the result of market selection. Only in the course of continuous competition can the iron ore index be improved, not one said. Finally, at present, China's iron ore index is gradually improving.
When the iron ore index disputes were held in private domestic industrial institutions, the CISA index had not been able to arrive. In this situation, many steel companies began to question whether CISA still needs to introduce its own iron ore index.
An insider of a steel company told reporters that the China Iron and Steel Association has a special status in the eyes of foreign miners, and then formulates an iron ore index in its special status. It is difficult to obtain approval from international miners. It is not as good as this. The index is compiled by an independent third party agency.
China's circulation productivity promotion center He Rongliang also told this reporter that in order to become a reference index of transactions in the market, public trust must be high, and there must be a broad basis for identification. Strictly speaking, this should actually be constructed by a third party. Independence is a minimum requirement and cannot be of interest to both supply and demand parties and other groups so as to increase the credibility of the index.
While the iron ore index of the China Iron and Steel Association was questioned, the reporter interviewed a number of people in the industry. They believe that the Chinese Iron and Steel Association would not be as meticulous in reorganizing the domestic iron ore index custom agencies as it is to focus on setting the iron ore index. , As soon as possible to improve China's iron ore index.
Iron ore index profit model
While the iron ore index is increasingly valued, the iron ore index is gradually being commercialized.
It is understood that many iron ore index custom agencies currently implement paid subscriptions to iron ore index data, which means that if they can get involved in the iron ore pricing system, they can get a corresponding profit.
China United Steel admits to this reporter: "The launch of China's iron ore spot price index is now in the free phase, but after becoming more mature, it will also begin paying subscriptions."
According to the Shanghai Securities News, TSI has nearly 3,000 email subscribers in the world and nearly 50 in China. The annual fee paid by each subscriber is 1950 US dollars, and this figure was only 495 US dollars in 2009.
Today, not only TSI’s premium price is high, but Platts’ group price may be higher because Platts has completed the acquisition of the TSI index. Moreover, the Platts index is favored by three major mines, and almost every one owns an agreement. The steel companies are Platts customers.
According to industry sources, the lucrative profits are the fundamental reason why major institutions are trying to get involved in the iron ore pricing system. For them, having “index-pricing power†is equivalent to having a huge profit.
In addition, from the Platts Group, we can see that if it can become an iron ore index referenced by international miners, it means that the price of iron ore produced reflects the market price, and the overall influence of the company will also be obtained. Great improvement.
However, if the domestic industry institutions that launch the Chinese iron ore index are not recognized by the market, profits will be far behind. According to the reporter's understanding, at present, on the websites of several domestic industrial organizations that have established iron ore indexes, the iron ore index data is only an appendix of the website and is freely available on the edge of the website for users to view.
According to an industry source, China is the world’s largest steel producer. If China’s iron ore index is recognized by domestic steel companies, it can rely on the strength of steel companies to push the mine to re-select the index adopted by the pricing formula. China’s iron ore The replacement of the Platts Index by the Stone Index is not impossible.
The “following action†of the domestic iron ore index-setting agencies has been intensive at the same time, and it seems to affect the release of the official index of the China Iron and Steel Association. The deeper reason why the multi-party institutions “grab†the iron ore price index may be that They saw the business opportunities.
China's most complete index launch
On July 4, China United Iron & Steel (hereinafter referred to as China United Steel) formally issued the "China Iron Ore Spot Price Index." Not only that, China United Steel said that this time it also introduced the import block ore index, which is currently the first block ore index in China.
It seems no coincidence that China United Steel chose to issue its own iron ore index at this time. Previously, on June 28, Platts Energy Information Corporation announced the acquisition of Global Steel Group and its TSI index. At the same time, China Iron and Steel Association delayed the iron ore originally scheduled for the end of June this year. index.
According to industry insiders, Platts’ successful acquisition marks that the future TSI index will tend to favor the Platts Index and will have a great impact on the future iron ore index system, which also caused a decline in the official index release of the China Steel Association. Small effect.
Sinosteel stated that the company chose to launch its own iron ore index at this time because the index currently being applied has a certain gap with the actual transaction price in China. From the long association model to the exponential pricing model, Chinese iron and steel enterprises have been hampered by the three major mines. After Platts’ purchase of TSI, the monopoly trend is more obvious. We now launch the Chinese iron ore spot price index to reflect China's The real price of iron ore spot market.
At present, the index referenced by the three major international mines is the Platts Index, which was published by the Platts Group, while the Platts Index is based on the 62% iron ore price of Qingdao Port as an index. There is no domestic mine at all. The element also does not reflect the true price of China's domestic iron ore, but the price of the iron ore will also differ from that of the Platts Index.
Yang Yongliang, deputy general manager of China Unicom’s e-commerce company, told this reporter: “The current global iron ore price index has a certain gap with the actual transaction price in China, and this gap is up to $15.â€
It is understood that the iron ore price index launched by China United Iron and Steel Network is currently the most complete index in China, and is derived from the weighted average of the spot prices of iron ore imports from China and the spot prices of domestically produced Chinese mines based on their respective weights.
China United Steel indicated that the samples were selected for domestic ore and imported ore, among which domestic samples were selected by 33 sampling sites in China's 15 provinces and cities with large production volume, large spot trading volume, and extensive distribution. These 15 provinces The city's iron ore raw ore production accounts for 95% of the country's total production. For imported ore, the ten largest ports with the largest domestic iron ore throughput and large-scale spot trading transactions are selected as samples.
Along with the Chinese iron ore spot price index, there is also an import block ore index, because there is no lump in the country, so China's lump mines are all purchased from the three major international miners.
Zhang Jiabin, manager of China United Iron and Steel Corps, told the reporter: “Since the monopoly of the three major miners, the imported ore is much more expensive than powdered ore, which is also the heart of the major domestic steel companies. Traders should return the virtual block mineral prices to a reasonable level based on the real spreads between lump ore and fines in the Chinese spot market."
China Steel Association is accused of being "special"
While China United Iron & Steel launched China's iron ore spot price index, many domestic iron ore consulting organizations have also launched or improved their own iron ore indexes, such as Xinhua News Agency, Steel House, My Steel Network, and Nishimoto New Former trunks, etc. have their own indices.
An industry source said that at present, domestic iron ore institutions are relatively messy, and in the long run, they will certainly affect the interests of major domestic steel companies and iron ore negotiations in the future.
According to CGL sources, currently there are many iron ore index development agencies in the world, and there is a competitive relationship among them. The survival of the fittest is the result of market selection. Only in the course of continuous competition can the iron ore index be improved, not one said. Finally, at present, China's iron ore index is gradually improving.
When the iron ore index disputes were held in private domestic industrial institutions, the CISA index had not been able to arrive. In this situation, many steel companies began to question whether CISA still needs to introduce its own iron ore index.
An insider of a steel company told reporters that the China Iron and Steel Association has a special status in the eyes of foreign miners, and then formulates an iron ore index in its special status. It is difficult to obtain approval from international miners. It is not as good as this. The index is compiled by an independent third party agency.
China's circulation productivity promotion center He Rongliang also told this reporter that in order to become a reference index of transactions in the market, public trust must be high, and there must be a broad basis for identification. Strictly speaking, this should actually be constructed by a third party. Independence is a minimum requirement and cannot be of interest to both supply and demand parties and other groups so as to increase the credibility of the index.
While the iron ore index of the China Iron and Steel Association was questioned, the reporter interviewed a number of people in the industry. They believe that the Chinese Iron and Steel Association would not be as meticulous in reorganizing the domestic iron ore index custom agencies as it is to focus on setting the iron ore index. , As soon as possible to improve China's iron ore index.
Iron ore index profit model
While the iron ore index is increasingly valued, the iron ore index is gradually being commercialized.
It is understood that many iron ore index custom agencies currently implement paid subscriptions to iron ore index data, which means that if they can get involved in the iron ore pricing system, they can get a corresponding profit.
China United Steel admits to this reporter: "The launch of China's iron ore spot price index is now in the free phase, but after becoming more mature, it will also begin paying subscriptions."
According to the Shanghai Securities News, TSI has nearly 3,000 email subscribers in the world and nearly 50 in China. The annual fee paid by each subscriber is 1950 US dollars, and this figure was only 495 US dollars in 2009.
Today, not only TSI’s premium price is high, but Platts’ group price may be higher because Platts has completed the acquisition of the TSI index. Moreover, the Platts index is favored by three major mines, and almost every one owns an agreement. The steel companies are Platts customers.
According to industry sources, the lucrative profits are the fundamental reason why major institutions are trying to get involved in the iron ore pricing system. For them, having “index-pricing power†is equivalent to having a huge profit.
In addition, from the Platts Group, we can see that if it can become an iron ore index referenced by international miners, it means that the price of iron ore produced reflects the market price, and the overall influence of the company will also be obtained. Great improvement.
However, if the domestic industry institutions that launch the Chinese iron ore index are not recognized by the market, profits will be far behind. According to the reporter's understanding, at present, on the websites of several domestic industrial organizations that have established iron ore indexes, the iron ore index data is only an appendix of the website and is freely available on the edge of the website for users to view.
According to an industry source, China is the world’s largest steel producer. If China’s iron ore index is recognized by domestic steel companies, it can rely on the strength of steel companies to push the mine to re-select the index adopted by the pricing formula. China’s iron ore The replacement of the Platts Index by the Stone Index is not impossible.
The product range of Hongchuang hardware fasteners includes hexagon head screws, full thread and half thread hexagon socket head cap screws, hexagon wood screws, hexagon socket head cap screws, full thread and half thread hexagon socket countersunk head screws, hexagon socket head flange screws, set screws, etc. We provide products conforming to DIN, ANSI and JIS standards.
Stainless steel of grade 304 contains nickel of 8% and chromium of 18% and is the most commonly used grade for the production of fasteners. It possesses an excellent combination of strength, corrosion resistance and fabricability. Fasteners of this grade are being extensively used today in almost every industry.
Metal Screw,Self Tapping Screws,Stainless Steel Screws,Steel Screws
Taizhou Hongchuang Hardware Co., Ltd. , https://www.taizhouhongchuang.com