Prevailing financial crisis, domestic steel companies are also increasing the pressure, but it seems they can not stop Iron ore Enthusiasm for the acquisition of resources.
Steel enterprises into overseas M & A boom
12 18, Wuhan Iron and Steel Company has agreed to 180 million Australian dollars (about 127 million U.S. dollars) price, purchase CentrexMetals iron ore project in Australia 50% of the shares. Centrex said, according to the agreement, Wuhan Iron and Steel will be the implementation of a formal agreement to pay 59.5 million Australian dollars a week, a formal agreement is expected in the March 17 execution. And then again in March 2010 to pay 30 million Australian dollars, and in the production target has been achieved, to pay the remaining funds. Centrex also said that Wuhan Steel to 9.7 million Australian dollars will buy 15% stake in the company Centrex. The two sides agreed to Eyre Peninsula in South Australia Cooperation Construction of a deep water export port.
"From the Wuhan Iron and the contract term, until some time after 2010 to reach this good, there are bad places." Productivity in the center of the steel distribution business analysts He Rong Liang said, Wuhan Iron and Steel As an enterprise, in itself need cash flow. Under the pressure of the financial crisis, many companies face liquidity problems. Of course, long-term view of the steel industry, this time a contract can not be good, can not say bad, because the global Iron ore price Still lacks a clear direction. But it is certain that with the international year Iron ore talks Prices decline, followed by a period of time is the acquisition time for the international iron ore resources, the better, low cost.
Fact, apart from Wuhan, China in recent years, many steel companies have set off a wave of overseas acquisitions. The most classic is the joint Alcoa Aluminum, spending huge sums to buy Australian iron ore giant Rio Tinto produced 12% of the shares. Not long ago, China Steel Group to offer access to 1.36 billion Australian dollars of Australian iron ore producer Midwest Corporation's absolutely controlling. Statistical, said Chinese companies to acquire the global mineral resources within the capital has reached 18 billion U.S. dollars.
China should study the Japanese experience
Present, due to the financial crisis, falling commodity prices of iron ore, Rio Tinto shares plunged Chalco billions of dollars in the acquisition of Fukui. While statistics say Chinese companies overseas acquisitions in recent years have been as much a loss as high as 200 billion yuan, a huge lesson.
"I am now more inclined to buy domestic iron and steel mines abroad." He Rong Liang said the Chinese steel companies to acquire overseas iron ore is a trend, but China should, like Japan, there are policies that support it. The strength of iron and steel enterprises in China is relatively small, overseas acquisitions bloated.
He Rong Liang analysis, coke and iron ore prices to China's influence is different. China's comparative lack of iron ore, so a global scale, iron ore prices rose a greater impact on China. From the current major steel producing countries in the world, China, Japan, South Korea Dengjun are relatively high dependence on foreign countries. Japan and South Korea's external dependence were higher than in China, Japan, 85% rely on overseas iron ore market, but international Iron ore prices Situation, but iron and steel enterprises in China are more affected.
He Rong Liang said that the Japanese steel companies produced more high value-added products, high technology content, in pricing these products is very strong, by the iron ore prices have less effect. Meanwhile, as technology advanced, the utilization of Japan's iron ore highest in the world. In this case, the iron ore price rise will be weakened or even squeeze some Chinese steel companies, the Japanese steel companies raise prices for steel and for huge profits.
"Actively promote overseas mineral exploration subsidy scheme to encourage foreign mining is the core of Japan's strategy of global resources." He Rong Liang said that the Japanese strategy of global resources is the main long-term, a large number of imports, and a planned reserve. I am a professional writer from China Chemicals Products, which contains a great deal of information about refurbished nextel cell phones , nokia 8800 sirocco silver, welcome to visit!
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