In early February, the Vietnamese government raised export tariffs on iron ore. From February 7, Vietnam will increase the export tariffs on iron ore and concentrate iron ore and pyrite from the original 30% to 40%. In addition, India also raised its iron ore export tariffs in January from 20% to 30%.
In recent years, the industrialization of emerging countries has led to an increase in steel consumption. The country’s iron ore demand is strong. In order to protect demand, coupled with some trade policies of iron ore exporting countries, the external environment of China’s iron ore imports The fear will further deteriorate. These countries set export tariffs on iron ore and have a tendency to increase.
These countries have raised iron ore export tariffs, and the impact on China's iron ore import formation has been more pronounced. India, India's domestic steel production capacity expansion, the Indian government encourages domestic companies, foreign companies to build steel mills, Tata, Indian Steel Authority Companies such as the expansion of production, Nippon Steel, Pohang and other companies have also set up factories in cooperation, iron ore demand began to heat up, iron ore consumption increased significantly. Recently, the OECD expects that India's steelmaking capacity will accelerate its expansion. By 2014, the steel production capacity will increase to 128 million tons, an increase of 32.8% compared to 2011.
So far, India has seen some bottlenecks in its iron ore supply. With the rising cost of ore mining, local governments have increased taxes and limited production, resulting in a tighter supply and demand situation in India's domestic iron ore market. In February, the Union Chamber of Commerce and Industry of India began to ask the Indian government to cancel the import duty of 2.5% on iron ore, in order to solve the shortage of iron ore supply, resulting in the inability of many steel mills to operate at full capacity. This incident shows that in the future, the Indian government’s iron ore import and export policies will be completely diverted, from encouraging exports to encouraging smelting and even importing iron ore.
India began to protect domestic demand orientation, adopted restrictive policies, and increased costs, resulting in a sharp decline in China's imports of Indian ore. In 2011, China imported 73.055 million tons of Indian iron ore, a year-on-year decrease of 24.36%. In the same period, the main source of imported ore was steadily increasing. In this way, Indian ore accounted for a sharp decline in the proportion of China’s iron ore imports. This time, the Indian government has imposed a 10% increase again, and the export tariff of iron ore has been raised to 40%, which will increase significantly. The import cost of China's traders, India's mineral resources will further decline.
Vietnam's mineral sources themselves account for a relatively small amount of iron ore imports in China. Therefore, Vietnam’s increase in export tariffs has less impact than India’s mines, but it indicates that the supply of mineral resources from neighboring mines in recent years will likely be curbed.
The sources of mineral resources in Vietnam are representative. In particular, the degree of monopoly in international ore has intensified. Chinese enterprises have accelerated the import of ore from other countries, and the growth rate in neighboring countries has been significant. According to statistics, in 2011, China imported 15.61 million tons of iron ore and 11.87 million tons of iron ore from Russia and Indonesia, an increase of 145% and 54% year-on-year, and imported 5.42 million tons of iron ore and 2.9 million tons of iron ore from Malaysia and Vietnam, an increase of 121. % and 50%.
Vietnam's annual steel output is one million tons and its own steel production is relatively small. However, economic development in Southeast Asia has driven the increase in steel consumption, construction of highways, railways, ports and terminals, airport airports, and urban facilities has started in an all-round manner. Moreover, processing and manufacturing in Vietnam have become a bright spot for economic growth. Demand for steel products has risen and imports are required every year. With a lot of steel, Vietnam’s dependence on steel imports reached 50%.
Although the amount of iron ore that China imports from Vietnam has continued to grow, Vietnam’s export tariffs for iron ore have increased dramatically. Since the start of the collection of iron ore export tariffs in 2010, Vietnam’s iron ore export tariffs have risen from zero to 40% in two years, which has exerted some pressure on Chinese steel companies in developing mineral resources.
In recent years, the industrialization of emerging countries has led to an increase in steel consumption. The country’s iron ore demand is strong. In order to protect demand, coupled with some trade policies of iron ore exporting countries, the external environment of China’s iron ore imports The fear will further deteriorate. These countries set export tariffs on iron ore and have a tendency to increase.
These countries have raised iron ore export tariffs, and the impact on China's iron ore import formation has been more pronounced. India, India's domestic steel production capacity expansion, the Indian government encourages domestic companies, foreign companies to build steel mills, Tata, Indian Steel Authority Companies such as the expansion of production, Nippon Steel, Pohang and other companies have also set up factories in cooperation, iron ore demand began to heat up, iron ore consumption increased significantly. Recently, the OECD expects that India's steelmaking capacity will accelerate its expansion. By 2014, the steel production capacity will increase to 128 million tons, an increase of 32.8% compared to 2011.
So far, India has seen some bottlenecks in its iron ore supply. With the rising cost of ore mining, local governments have increased taxes and limited production, resulting in a tighter supply and demand situation in India's domestic iron ore market. In February, the Union Chamber of Commerce and Industry of India began to ask the Indian government to cancel the import duty of 2.5% on iron ore, in order to solve the shortage of iron ore supply, resulting in the inability of many steel mills to operate at full capacity. This incident shows that in the future, the Indian government’s iron ore import and export policies will be completely diverted, from encouraging exports to encouraging smelting and even importing iron ore.
India began to protect domestic demand orientation, adopted restrictive policies, and increased costs, resulting in a sharp decline in China's imports of Indian ore. In 2011, China imported 73.055 million tons of Indian iron ore, a year-on-year decrease of 24.36%. In the same period, the main source of imported ore was steadily increasing. In this way, Indian ore accounted for a sharp decline in the proportion of China’s iron ore imports. This time, the Indian government has imposed a 10% increase again, and the export tariff of iron ore has been raised to 40%, which will increase significantly. The import cost of China's traders, India's mineral resources will further decline.
Vietnam's mineral sources themselves account for a relatively small amount of iron ore imports in China. Therefore, Vietnam’s increase in export tariffs has less impact than India’s mines, but it indicates that the supply of mineral resources from neighboring mines in recent years will likely be curbed.
The sources of mineral resources in Vietnam are representative. In particular, the degree of monopoly in international ore has intensified. Chinese enterprises have accelerated the import of ore from other countries, and the growth rate in neighboring countries has been significant. According to statistics, in 2011, China imported 15.61 million tons of iron ore and 11.87 million tons of iron ore from Russia and Indonesia, an increase of 145% and 54% year-on-year, and imported 5.42 million tons of iron ore and 2.9 million tons of iron ore from Malaysia and Vietnam, an increase of 121. % and 50%.
Vietnam's annual steel output is one million tons and its own steel production is relatively small. However, economic development in Southeast Asia has driven the increase in steel consumption, construction of highways, railways, ports and terminals, airport airports, and urban facilities has started in an all-round manner. Moreover, processing and manufacturing in Vietnam have become a bright spot for economic growth. Demand for steel products has risen and imports are required every year. With a lot of steel, Vietnam’s dependence on steel imports reached 50%.
Although the amount of iron ore that China imports from Vietnam has continued to grow, Vietnam’s export tariffs for iron ore have increased dramatically. Since the start of the collection of iron ore export tariffs in 2010, Vietnam’s iron ore export tariffs have risen from zero to 40% in two years, which has exerted some pressure on Chinese steel companies in developing mineral resources.
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