On the 13th, Australia's fourth largest iron ore producer Atlas officially became a member of China's iron ore spot trading platform. As China invites more and more independent small and medium-sized miners to join the iron ore spot platform, the market share of the three major miners in China's iron ore market will fall from about 40% to about 25%. On the 13th, Atlas, Australia's fourth-largest iron ore producer, and Beijing International Mining Rights Exchange (hereinafter referred to as “Northern Mining Instituteâ€) held a signing ceremony for the market entry agreement, officially becoming China's iron ore spot trading platform. member. To reduce its reliance on Vale, Rio Tinto and BHP Billiton, China has been looking for other sources of iron ore. As China invites more and more independent small and medium-sized miners to join the iron ore spot platform, the market share of the three major miners in China's iron ore market will fall from about 40% to about 25%. Conducive to diversification of import sources Atlas's participation in China's iron ore platform coincides with the weak demand for iron ore. Since the operation of China's iron ore spot trading platform for 47 trading days, as of July 12, the total declared quantity was 44,191,568 tons, much higher than the turnover of 2,807,808 tons. During this period, the price of bulk commodities in the international market fell, and the domestic steel market was weak. According to Wang Xiaoqi, vice president of the China Iron and Steel Association, the price of iron ore has dropped from the previous $152 to around $135. Moreover, due to the weak steel market, the current inventory of steel mills has remained at a low level of 10-15 days, and the port stocks are at a high level of 90 million tons to 100 million tons. Traders are cautious in holding goods. Wang Xiaoqi said that the demand for steel market in the second half of the year is expected to be better than that in the first half of the year, but the total production capacity will be large, the steel price will not increase significantly, the demand for iron ore will not increase significantly, and the domestic and international supply is increasing. Iron ore prices will continue to decline. Atlas's managing director Ken Brinston said that he chose to join the platform at this time because he wanted to participate in the formation of transparent and fair iron ore prices. Wang Xiaoqi believes that Atlas is not joining the platform at this time to suppress the price. This is the common pursuit of miners, steel mills and traders. It wants to truly reflect the supply and demand relationship in the iron ore market through the market and promote the formation of fair, just and reasonable. Transparent international iron ore price formation mechanism. Wang Xiaoqi said: "Inviting Atlas to join is a long-term consideration. The introduction of independent miners can change China's iron ore supply structure and facilitate the diversification of import sources." He hopes that China's domestic iron ore can account for 40% of the supply in the future. ~45%, imported iron ore accounts for 50%~60%, and the share of the three major miners can be reduced from 60% of imported mines to 50%, that is, from the current 40% in China's iron ore market. Up to 25%. At present, 60% of China's iron ore demand comes from imports, and the three major miners account for 60%. In 2011, China imported 686 million tons of iron ore, a year-on-year increase of 10.9%, of which Australian mines accounted for 43%. China's iron ore spot trading platform currently has 177 members, including 38 overseas members, but only 6 miners. Dong Chaobin, president of the North Mining Institute, said that China's iron ore import structure is uneven, and there are few independent miners in other countries and regions. Atlas's joining will help change the iron ore import pattern in China and make the supply structure more balanced. The North Mine is in contact with some small and medium mines. "Stable growth" brings the gospel to Australian miners According to "Australian Daily", SimpsonSpenceandYoung (SSY), the world's largest private shipping agent, revealed that Australia has gradually become China for 12 years due to insufficient supply from competing countries such as Brazil and India. The largest source of iron ore imports, the Australian mines account for nearly half of China's iron ore import market. From January to April 2012, Australian mines accounted for 44% of China's iron ore imports, which is the highest in Australia since 2000. In the face of the world's largest iron ore import market, China's economic growth has slowed down. Australian miners are cautious and optimistic. The Chinese economic outlook is highly controversial, which will directly affect their expansion plans. As early as March 20 this year, BHP Billiton chairman Jack Nasser told investors that the company is reassessing huge investment plans because of the slower expectations of demand for commodities due to the slowdown in China's economic growth. But Atlas China’s general representative Paul Glasson told reporters that if anyone thinks that China’s economy is not good, then he does not understand China. He believes that the new Chinese leadership team after the "18th National Congress" will regard "stable growth" as the economic development goal, which is an important factor for Atlas to remain optimistic about the Chinese market. In addition, the recent approval of China's “Two Guangdong†steel projects has also brought good news to Australian miners. On May 24, the Guangxi Fangchenggang Steel Base Project and the Guangdong Zhanjiang Steel Base Project on the southern coast of China were officially approved. "This will create a new capacity of 100 million to 125 million tons of throughput," Glasson said. At present, there are two mines under construction in Atlas. Its four iron ore projects in the northern Pilbara region of Western Australia are raised by 50%, which will ensure that the company achieves its target of 12 million tons per year by the end of this year. Glasson said it would cost $650 million. Atlas currently has no debt, and more than 300 million US dollars of funds have been put into expansion. Glasson said that this year Atlas will export about 10 million tons of iron ore to China, of which half of the spot and steel mills are in the long-term mode, but in the future will increase the proportion of the long-term model. It is worth mentioning that Atlas, who is also a member of the Singapore Global Iron Ore Trading Center (GlobalORE), is currently not trading at GlobalORE. Ken Brinston said that after joining China's iron ore spot trading platform, as the production of Atlas increases, the supply of China Changxie and spot will increase. Atlas is expected to produce 46 million tons in 2017. However, Glasson did not disclose the amount of Atlas expected to be placed on the Chinese platform.
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