China's steel industry will encounter more unexpected tests on the road of expanding iron ore import channels. On May 4, foreign media reported that Indonesia (hereinafter referred to as Indonesia) will impose a 20% tariff on 14 mineral exports including iron ore from May 6. It is reported that in addition to Indonesia, other countries will also increase tariffs or limit the export of mineral resources. Among them, India and Vietnam will raise iron ore export tariffs, and Australia's carbon tax and mineral resource rent tax will also be imposed on July 1. In this regard, an industry source told reporters that the successive tax increases by various countries will not only increase the cost of Chinese steel enterprises, but also inhibit the pace of Chinese steel enterprises investing in minerals overseas. “China has realized that it is necessary to invest in foreign mines or acquire equity mines, but at the same time, foreign awareness of resource protection is gradually increasing.†Indonesia’s short-term impact on tax increases is limited. At the press conference held recently, Indonesian energy and mining Minister JeroWacik told the media that a new mining investment and mineral export regulations will be promulgated by May 6, stipulating that the ore export tax will be gradually raised and that exports will be completely stopped in 2014. It is reported that the ban applies to copper, lead, nickel, gold, silver, zinc, chromium, manganese, molybdenum, platinum, rhodium, bauxite, sea sand, iron ore; the government will impose 20% on these ores in the first step. tariff. "From the upcoming mining investment regulations and export regulations of products in Indonesia, not only is the adjustment time very rapid, but the measures taken are also very strict, and more consideration is given to the protection of its own mineral resources." My Steel Research Center (MRI) Wang Yizhou said that. However, the proportion of Indonesian mines imported from China is not large. Data show that in 2011 Indonesia had 11.87 million tons of iron ore exported to China, while last year China imported 680 million tons of iron ore, Indonesian iron ore accounted for only about 1.8%. In Wang Yizhou's view, Indonesia's export control is more an attempt to increase the added value of domestic ore resources. As its per capita steel consumption is far below the world average, Indonesia may try to develop domestic steel companies and reduce the domestic steel industry's imports. rely. Gao Tong, an analyst at Datong Futures, said in an interview yesterday that Indonesia’s increase in iron ore tariffs will not affect the price of imported ore in the short term. “Indonesia’s iron ore is poor, and pushing up the price is not realistic, and China Steel Industry demand is no less than a few years ago, and the short-term direct impact is not great." In addition, the recent sluggish market for Chinese steel (4256, 15.00, 0.35%) will also weigh on imported mineral prices. According to my steel network survey, domestic steel spot market prices continue to fall. The data showed that the flat steel index on May 3 was 137.5 points, down 0.10% from the previous trading day, of which the plate index and the hot rolled index fell by 0.19% and 0.09% respectively. Or inhibit Sinosteel enterprises to take mines overseas . In fact, in addition to Indonesia, many countries will continue to take measures on mineral resources. Among them, India and Vietnam will increase iron ore export tariffs, and Australia’s carbon tax and mineral resource lease tax will also The collection began on July 1. "Many countries will gradually increase tariffs or limit the export of mineral resources, which has become a trend." Tang Jing said. The reporter noted that Chinese steel companies "overseas mining" are being plagued by this new problem. In recent years, in order to break the absolute monopoly of the three major miners, Chinese steel companies have increased their import channels and have achieved certain results. According to data from Lange Steel, although Australia is still a major exporter of iron ore, from January to February 2012, the share of African mine imports increased from 6.04% in 2011 to 6.95%. The share of South American mines in import sources increased slightly, from 24.27% in 2011 to 25.92%. “Because the three major mines monopolize the iron ore market, China has expanded its import channels to break the monopoly of non-mainstream mines, but when more and more non-mainstream countries begin to impose export restrictions on mineral products, the Chinese crisis will come. "The joint metal network iron ore analyst Tang Jing said. It is reported that because Indonesia is not small in the non-mainstream iron ore exporting countries, it may lead neighboring countries such as Thailand and the Philippines to raise tariffs. What worries Gao is that although the starting point for each country's tax increase is different, if the tax is raised, the increase in upstream costs will not only be passed on to consumers, but also inhibit the pace of China's going abroad to invest in minerals. Wang Yizhou also believes that although Indonesia should not raise excessive tariff panic, the protection of ore exports may appear in more countries in the future. "This will not only affect the protection of China's iron ore overseas resources, but also affect China's steel. The profitability of the industry deserves a high degree of attention." And this negative impact has actually begun to appear. "If Australia levies a resource tax, the impact on China's iron ore imports can not be underestimated." Gao Wei said.
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