| First National Meeting on Imported Iron Ore Supply and Demand Held in Heilongjiang |
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| Wednesday,August 17,2005 Posted: 01:36 BJT(1736 GMT) MOFCOM |
First National Meeting on Imported Iron Ore Supply and Demand Held in Heilongjiang
Tuesday,August 16,2005 Posted: 08:19 BJT(0019 GMT) MOFCOM
First National Meeting on Imported Iron Ore Supply and Demand was held in Heilongjiang on August 9, sponsored by the Ministry of Commerce for the first time, supported by China Iron and Steel Association and China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters and assisted by the Department of Commerce of Heilongjiang Province. Main aim of holding the meeting was to provide a platform of direct transaction between domestic production enterprises of iron ore and import enterprises in the area, to push forward a long-term and steady cooperation relationship, to lower transaction cost, standardize transaction styles and optimize sources allocation, and was the valuable seeking with the principle of market direction.
Yu Guangzhou, Vice Minister of Commerce, delivered a speech at the Meeting, pointing out that China was a country with lower land natural resources per capita and unfavorable endowment of resources, the fundamental realities determined objectively that we should seek for effective channel to guarantee resources supply from global resources allocation. We should further expand the open-up, make a general plan with the consideration of both domestic development and open-up and fully utilize both domestic and international markets and resources.
Mr. Yu Guangzhou pointed out that China should expedite to constitute and implement the strategy of using overseas resources, insist on integration of "bring-in" with "going global", actively launch transnational business in various forms such as joint venture, cooperation and merger, establish diversified, steady and authentic overseas basis of resources supply and improve the ability of using overseas resources.
Meanwhile, he said that there were many problems in the import work of iron ore in recent years, like imports of iron ore was in disorder; as a big buyer, we could not play as a big winner; unreasoning imports still existed.
The Ministry of Commerce cooperated with relative departments to take a series of measures of macro-control on the issue of enhancing coordination and control of imports.
1, To enhance the import coordination and control, standardize the operation order of iron ore. From March 1, 2005, automatic import license administration under WTO Framework was performed on iron ore, import inspection, early-warning analysis and timely supervision on imports of iron ore were enhanced.
2, To timely adjust the import and export tariff policies on steel products, control the exports of primary steel products, reduced the demand for iron ore imports and relax the supply and demand relationship.
3, To enhance the macro-control in steel industry, restrain the over-fast increase in production capacity of steel and relieve the situation of shortage of resources material like iron ore.
4, To enhance the foreign affairs of iron ore imports. Import order of iron ore was obviously improved through taking the above measures, transaction order at domestic market and phenomena of touting by agencies was improved obviously.
Mr. Yu Guangzhou stressed that in a period from now on, import enterprises concerned should highly and completely recognize the importance of resource commodities, should be disinterested to make full use of the superiority of China as a big buyer at the maximum, should positively make investigations and master the situation of production, demand, circulation and stock of iron ore at home and abroad, avoid market risks and guarantee steady trade channels.
Luo Bingsheng, the vice chairman of China Iron & Steel Association, and Chen Haoran, Chairman of CCCMC, made speeches at the Meeting, officials in charge of the MOFCOM Department of Foreign Affairs attended the Meeting. Total over 400 delegates from more than 100 steel production enterprises and import enterprises of iron ore took part in the Meeting, during the meeting, the sponsor set up 63 booths for face-to-face negotiation between suppliers and demanders.
According to statistics, China imported 208 million tons of iron ore in 2004, accounting for one third of global sea transportation and becoming the biggest importer. It is predicted that imports of iron ore in 2005 will amount to 240 million tons, up by 15%.
(Source: Network Center of MOFCOM)
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