With the continuous rising of steel price and the expansion of market demands, the imported ore price also has increased. Presently the spot price of Chinas imported ore has broken U.S.$100 per ton, far higher than the long-contract price of Japan, therefore, China Iron & Steel Association (CISA) said it will strictly crack down the disordered import, especially the illegal speculation of traders.
According to the latest data released by CISA, there are 152 importers in China this year, exceeding 112 licenses that CISA issued. Although China has strict iron ore agent system, which regulated that the traders without license can not import iron ore, agent system lost its binding force facing with the huge interest and 40 illegal enterprises are still importing iron ore. In H1 this year, China imported nearly 300mln tons of iron ore from oversea, while 131mln tons of imported ore from traders.
What made Shan more anxious that the excessive imported ore caused sea freight significantly rising. Take the freight from Brazil to China for example, the price was only U.S.$8.85 per ton at the end of last year, while now it has climbed to U.S.$45.6 per ton, increased five times.
For more information please click: www.chinametalbiz.com
According to the latest data released by CISA, there are 152 importers in China this year, exceeding 112 licenses that CISA issued. Although China has strict iron ore agent system, which regulated that the traders without license can not import iron ore, agent system lost its binding force facing with the huge interest and 40 illegal enterprises are still importing iron ore. In H1 this year, China imported nearly 300mln tons of iron ore from oversea, while 131mln tons of imported ore from traders.
What made Shan more anxious that the excessive imported ore caused sea freight significantly rising. Take the freight from Brazil to China for example, the price was only U.S.$8.85 per ton at the end of last year, while now it has climbed to U.S.$45.6 per ton, increased five times.
For more information please click: www.chinametalbiz.com
