An important reason why Australian mines require additional price increases is that the gap between the spot price of imported iron ore in China and the long-term agreement price is too large. While the spot price is dominated by the Indian mines, India’s increase in tariffs on iron ore exports will add to Australia’s bargaining chips, further widening the differences between China and Australia.
In the recent period, the Ministry of Finance of India made a decision to impose further tariffs on iron ore exports, which is levied at 15% of FOB prices. For Chinese steel companies, it can be said that the Indian mines are love-hate, and ultimately it is inseparable. This time, it is indeed a good time for India to impose tariffs when India is in a downturn. The Chinese response appears to be relatively flat. However, due to the important position of Indian mines in China's imported ore, the impact it still has can not be ignored.
For some time, domestic mining companies and steel companies in India have been arguing over the issue of protecting their iron ore resources and export earnings. As early as the beginning of this year, the Indian Ministry of Finance proposed to impose a 15% tariff on export iron ore, but due to strong opposition from the mining sector, it had to be temporarily suspended. Recently, due to the skyrocketing prices of domestic steel products in India, this problem has resurfaced. In view of the high domestic steel prices, the Indian government has proposed to increase the steel export tax in order to keep more resources in the country and then suppress steel prices, but this has been opposed by steel companies. In the end, the two sides compromised and Indian steel companies took measures to stabilize steel prices, while the country abolished steel export tariffs, imposed tariffs on iron ore, balanced taxes by increasing ore export taxes, and promoted the domestic steel industry in India. This bill was approved by the Indian Council of Ministers on May 30 and approved by the National Assembly on June 30. Implementation will begin from that day. While imposing export tariffs on iron ore, the Indian government has also raised the export tariff on long products from 10% to 15%, but has cancelled the previously imposed tariffs (5%-15%) on flat steel exports. The Indian Ministry of Finance stated that this two-into-one policy will increase the income of India’s treasury by 4.6 million U.S. dollars.
It can be said that the most direct impact of India’s tariff increases on iron ore exports is the pending iron ore negotiations. India is one of the three major sources of iron ore imported by China. Although its export volume has recently declined, it still accounted for 20.7% of China’s share of iron ore imports in 2007, which was after Australia’s 38% and Brazil’s 25.5%. In recent years, due to the strong demand for steel in the international market, the supply of iron ore has been relatively tight. The rising Indian iron ore has always been the benchmark of the spot market and has become an important basis for the international three major mines to seek price increases for the agreed mines. Although there has been a significant drop in the current ocean freight rate, it is still at a high level and the Australian mine's CIF price is still significantly lower than the Indian or Brazilian mines. An important reason why Australian mines require additional price increases is that the gap between the spot price of imported iron ore in China and the long-term agreement price is too large. While the spot price is dominated by the Indian mines, India’s increase in tariffs on iron ore exports will add to Australia’s bargaining chips, further widening the differences between China and Australia.
In the recent period, the Ministry of Finance of India made a decision to impose further tariffs on iron ore exports, which is levied at 15% of FOB prices. For Chinese steel companies, it can be said that the Indian mines are love-hate, and ultimately it is inseparable. This time, it is indeed a good time for India to impose tariffs when India is in a downturn. The Chinese response appears to be relatively flat. However, due to the important position of Indian mines in China's imported ore, the impact it still has can not be ignored.
For some time, domestic mining companies and steel companies in India have been arguing over the issue of protecting their iron ore resources and export earnings. As early as the beginning of this year, the Indian Ministry of Finance proposed to impose a 15% tariff on export iron ore, but due to strong opposition from the mining sector, it had to be temporarily suspended. Recently, due to the skyrocketing prices of domestic steel products in India, this problem has resurfaced. In view of the high domestic steel prices, the Indian government has proposed to increase the steel export tax in order to keep more resources in the country and then suppress steel prices, but this has been opposed by steel companies. In the end, the two sides compromised and Indian steel companies took measures to stabilize steel prices, while the country abolished steel export tariffs, imposed tariffs on iron ore, balanced taxes by increasing ore export taxes, and promoted the domestic steel industry in India. This bill was approved by the Indian Council of Ministers on May 30 and approved by the National Assembly on June 30. Implementation will begin from that day. While imposing export tariffs on iron ore, the Indian government has also raised the export tariff on long products from 10% to 15%, but has cancelled the previously imposed tariffs (5%-15%) on flat steel exports. The Indian Ministry of Finance stated that this two-into-one policy will increase the income of India’s treasury by 4.6 million U.S. dollars.
It can be said that the most direct impact of India’s tariff increases on iron ore exports is the pending iron ore negotiations. India is one of the three major sources of iron ore imported by China. Although its export volume has recently declined, it still accounted for 20.7% of China’s share of iron ore imports in 2007, which was after Australia’s 38% and Brazil’s 25.5%. In recent years, due to the strong demand for steel in the international market, the supply of iron ore has been relatively tight. The rising Indian iron ore has always been the benchmark of the spot market and has become an important basis for the international three major mines to seek price increases for the agreed mines. Although there has been a significant drop in the current ocean freight rate, it is still at a high level and the Australian mine's CIF price is still significantly lower than the Indian or Brazilian mines. An important reason why Australian mines require additional price increases is that the gap between the spot price of imported iron ore in China and the long-term agreement price is too large. While the spot price is dominated by the Indian mines, India’s increase in tariffs on iron ore exports will add to Australia’s bargaining chips, further widening the differences between China and Australia.
This is a paper slitting machine used to slit the big paper roll into many small paper rolls. The small paper rolls will be put on Paper Rope Machine to make the different twisted Paper Rope or flat paper rope and used on Paper Handle Machine to make the different handles. It is a very good supporting machine for paper rope or Paper Handle production. It is running stably, smoothly and fast.
Paper Slitting Machine
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DongGuan FeiYang Packaging Machinery Equipment Co., Ltd , https://www.feiyang-machinerys.com