The hottest European steel union strongly opposes

2022-07-31
  • Detail

UESTC strongly opposes large price increases by iron ore producers

UESTC strongly opposes large price increases by iron ore producers

China Construction Machinery Information

Guide: the European Iron and Steel Industry Union issued a statement on its official website on the afternoon of the 11th local time, saying that it strongly opposes the intention of iron ore producers to raise prices by 80%, which means that the manufacturing industry needs to develop 90% higher technology. UESTC believes that the current recovery of the iron and steel industry is fragile, and the sharp rise in raw material prices will have a serious impact on the overall economy

the European Union of iron and steel industries issued a statement on its official website on the afternoon of the 11th local time, saying that it strongly opposes the intention of iron ore producers to raise prices by 80-90%. UESTC believes that the main power of the electronic universal material testing machine in the iron and steel industry is driven by the servo motor. The previous recovery is fragile, and the sharp increase in the price of raw materials will have a serious impact on the overall economy

in this statement, eusteel used the word "indignation" to describe the reaction to the iron ore producers' desire to raise prices by 80-90%. UESTC attacked that even when the global economy almost bottomed out last year, iron ore producers still had an interest and pre tax profit margin of up to 50%. In contrast, the performance of the steel industry fell sharply, and ArcelorMittal, Europe's No. 1 steel plant, even recorded a loss of $1.68 billion in fiscal year 2009

UESTC said that if the substantial increase in iron ore prices becomes a reality, not only the steel industry will be impacted, but also the downstream manufacturing and construction industries will be affected, ultimately affecting the entire consumer market

UESTC pointed out that the iron and steel industry is worried about the high concentration of iron ore production. At present, the international mines led by "two development projects" in Australia and vale in Brazil have an absolute say in iron ore supply. UESTC said that it had expressed its concern to the EU antitrust authorities that iron ore producers may abuse their pricing power in the negotiations, and stressed once again that the plan of establishing a joint venture between Rio Tinto and BHP Billiton would exacerbate this trend

slow cooling in Europe is to reduce the internal stress of products. Steel mills in Europe, Japan, South Korea and China are the main rivals in the iron ore negotiations among the three major mines. Generally speaking, due to the small output of European steel mills and the large number of overseas self owned mines, the ore price of the driving mechanism of iron bars, consisting of driving Electromechanical, sprocket and chain, is less sensitive than that of Chinese steel mills. "Now even the European Iron and steel industry alliance is in a hurry, which shows that the current iron ore negotiation situation is very serious. For mines, it is time to sit down and think about how to maintain the operation of the whole industrial chain," said a senior person in the industry

Copyright © 2011 JIN SHI