China today listed futures to iron ore pricing power

If the past 10 years in China and the three major mines in the international iron ore price negotiations experience compared to a football match, so, this is clearly a struggle between weak disparity:API 5l spiral welded carbon steel pipe despite having super center of baosteel, star front such as wuhan, anshan and gold coach cisa, but China is still struggling to keep up: not only repeatedly lost big shot (pricing), more often be LengShe countered sign the agreement) the (Nippon steel, also is an awkward (Rio tinto spy door). Once, the coach named him personally, one-sided has been unable to rewrite the score.
Since 2003, iron ore prices from $30 per tonne to $130 a tonne, the highest reached nearly $200 a tonne, up more than 5 times. Over the same period, domestic rebar prices only from 3000 yuan to 3500 yuan per ton,schedule 40 galvanized steel pipe tons of profits and even less than one kilogram of pork.
Steel mills worried, but suffer from the ball is not in his feet.
This passive situation may change in the near future.
Starting today, the Chinese have a new secret weapon in the game: iron ore futures contracts today officially listed. Another heavyweight after thermal coal futures commodities futures, vying for influence in the commodities industry on the iron ore futures always,ASME B16.9 std a234wpb pipe elbow more for Chinese steel mills to the three major mines bastion "monopoly" war horn.
The securities and futures institute of Beijing industry and commerce university Hu Yu more for the Shanghai newspaper reporters, national strategic resource commodities to preempt the commanding heights of the deployment of accelerated, the contradiction of China's iron ore pricing power consumption and small countries need to be addressed, the iron ore futures market will provide an important basis to improve voice condition.
In the industry point of view,diameter 219mm erw carbon steel pipe manufacturers this is China in vying for influence in the long iron ore pricing, the key step of the way the "shock" effect to be reckoned with. But because of China's iron ore import dependence degree is higher, and the futures market is still not open to the public, domestic enterprises in the face of the highly monopolistic upstream resources industry is still a long way to go.