In the same industrial chain, the upstream meat, the downstream soup, this is the status quo of the steel industry. BHP Billiton, one of the world's three major mining giants, recently reported a net profit of $13.124 billion (approximately 83.86 billion yuan) in the first half of 2011, nearly double the same period last year. Before BHP Billiton, the results of the other two mining giants Vale and Rio Tinto showed that the net profit in the first half of the year was 13.3 billion US dollars and 7.6 billion US dollars respectively, up 150% and 30% respectively. The three companies made a total profit of 34 billion US dollars (about 217.6 billion yuan). What are the concepts of these numbers? Contrast is intuitive. According to the data disclosed by the China Iron and Steel Association recently, the key steel producers in the first half of this year realized a profit of 56.374 billion yuan. Among them, Baosteel was the most profitable, achieving a profit of 11.133 billion yuan, accounting for nearly 20% of the profits of key statistical steel enterprises. In other words, the net profit of the three major mining giants is nearly four times that of China's steel industry; BHP Billiton's net profit is nearly seven times that of Baosteel Group. In fact, this is not a new thing. Taking 2010 as an example, the three major mines achieved a total net profit of 48 billion US dollars, which is 3.5 times the profit of China's steel industry. The Chinese steel industry has long recognized that high iron ore prices are driving profits from the entire industry and have been hoping to reverse this unreasonable situation. In recent years, iron ore negotiations, the Chinese delegation can not be said to be effortless. On the other hand, many steel companies have gone overseas, and they have continued to buy or buy a lot of mines. In addition, the China Iron and Steel Association has been mulling a Chinese iron ore price index to try to compete for iron ore pricing power. However, the latest data facts prove that this extremely uneven situation has not been corrected, but has been further aggravated. More and more blast furnaces and high dependence on imports have kept the Chinese steel industry at a disadvantage in iron ore negotiations. Some time ago, the three major mining giants changed the annual pricing of transactions into monthly pricing, and tried to further advance the pricing method of spot. Chinese steel enterprises began to face greater challenges. This can not help but ask people, how long does the Chinese steel industry have to be iron ore card? Although small and medium-sized mines purchased by Chinese steel companies overseas can help reduce the dependence of iron ore on foreign countries, it is still difficult to change the monopoly status of the three major mining giants. As for the China Iron Ore Price Index, there are news that it will be in August. Trial operation, but in a difficult situation, China Steel Association also admitted that it is difficult to affect the three major mines in a short time. At the same time, the current huge steel production capacity and the strong demand for the construction of affordable housing in the future, coupled with the impact of the appreciation of the renminbi, the expectation of iron ore prices continue to rise. It can be imagined that the cost pressure will still be a thorn in the Chinese steel industry for quite some time. The sharp contrast of the data at the beginning will still jump out from time to time to sting people's eyes. Only the iron ore supply and demand structure has reversed, from the current seller's market to the buyer's market, and China as a demander may actually turn over and take the initiative.
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