Data show that iron ore import prices rose sharply in 2010

The data released by the Ministry of Industry and Information Technology recently showed that in 2010 China's bulk raw material import prices rose sharply. The sharp rise in the import price of iron ore is even more costly for China’s steel industry to spend as much as US$30 billion. Data show that last year a total of 620 million tons of iron ore was imported, a year-on-year decrease of 1.4%. The average import price was US$128/ton, up 60.6%; the import crude oil was 239 million tons, up 17.5% year-on-year, and the average import price was US$565/ton. , up 28.9% year-on-year.

According to industry insiders, from the perspective of the trend of international commodities this year, the situation is still not optimistic. Under the influence of the US quantitative easing monetary policy and the recovery of the world economy may exceed expectations, recent commodity prices in the international market have continued to rise, and this market may continue, which will increase the pressure of imported inflation in China.

The data released by the Ministry of Industry and Information Technology also shows that the effect of export tax rebate on the steel industry is obvious. Data show that in 2010, the volume of steel exports showed a trend of highs and lows. In the first half of the year, exports of steel products (4909, 0.00, and 0.00%) steadily rebounded. In June, exports reached 5.62 million tons. After that, due to the adjustment of export policies, exports dropped significantly. In August, it fell to 2.8 million tons. The data also showed that a total of 42.56 million tons of steel were exported during the year, a year-on-year increase of 73%, of which from January to July, it was a year-on-year increase of 1.52 times. From August to December, the export growth rate fell to 7.4%.

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