YIEH.COMRegisterForgot your ID? About Yieh Corp. Español Contact UsInquiry Now 
Search
 
Market News
Expert Article
Useful Link
Conference & Exhibition
Market News Archive
Key Word
Search By
Date
Classification
Region
Raw material ... more
China's Shagang may hold off its iron ore purchase from big three miners
Mr. Shen Wenming, the Vice President of Jiangsu based Shagang, the largest private steel enterprise in China said the firm may hold off its iron ore purchases from the big three miners and the steel output should be cut in consideration of the current weak steel market.

He added that the company has held discussions with the top three iron ore makers on unreasonable quarterly pricing as it always lags behind the market when the market dips but it increases faster than actual demand when the market turns up.

Also, it's heard that roughly 60% of Shagang iron ore contracts are based on quarterly pricing.

Shagang currently produced 29 million tons of iron, 35 million tons of steel and 33 million tons of rolled products annually.





News Date 10/19/2011 8:49:02 AM reported by Mike Lo
Related News
No 6, E-Da Road, Yanchao Dist., Kaohsiung City, Taiwan, 82445 R.O.C. │ Tel : +886-7-615-1000 │ Fax : +886-7-615-3000
Copyright (c) 2014 Yieh Corp.. Al l rights reserved Skype to us |Privacy Policy | E-mail: ec@yieh.com