Rio Tinto pushes for monthly contract
- By He Shan
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China.org.cn, June 23, 2011
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Mining giant Rio Tinto says last week it will move to montly contract, after the annaul benchmark contract expires last year. |
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Rio Tinto pushes for monthly contract |
力拓推行铁矿石月度定价 |
| Anglo-Australian mining giant Rio Tinto said it will offer its customers a selection of iron ore pricing that will allow them to buy the ore on a monthly basis, in a statement interpreted by analysts as endorsing a shorter-term pricing mechanism. | 铁矿石定价体系的进一步短期化再度得到大矿山的支持和推动。昨天，力拓方面的消息称，公司可以向钢厂客户提供新定价协议，比如月度定价。据称，月度方案与季度定价体系是并存的，客户可以自行选择。有了力拓的加盟，被认为已成趋势的铁矿石定价短期化进程又往前进了一步。 |
| Although the company prefers monthly agreements, it would not impose the shorter contracts on customers, the Australian Financial Review said in a report, citing Rio marketing chief Warwick Smith. | 昨日，《澳大利亚金融评论报》报道，力拓公司市场总监Warwick Smith表示月度和季度定价体系可以并存，公司并非强迫钢厂接受。 |
| Rio Tinto's move comes in the wake of a similar step by BHP Billiton, who fired the first shot by offering customers a multi-tiered pricing system including long-term and short-term contracts and spot sales | 这一策略与必和必拓非常相近。作为指数化定价的首倡者，必和必拓早些时候已经开始向客户提供多种定价体系方案，包括季度、月度乃至全现货，并称"钢厂可以自由选择"。这被市场视为铁矿石定价逐步短期化的重要发展。 |
| Vale, the world's largest iron ore supplier, has expressed support for a quarterly contract, but has not yet made detailed remarks on the issue. | 另一矿石巨头巴西淡水河谷也曾多次表示支持季度定价，不过其目前还没有最新表态。 |
| A manager at a Hebei steel mill said he knew Rio Tinto is moving to a monthly pricing, but has not yet received any documents from the company offering the shorter contracts. | 上证报记者昨日致电河北一家与力拓有协议矿采购合同的钢厂。该厂国贸部经理表示，自己已经得知力拓将转变定价模式的消息，但目前尚未收到新的报价文件。 |
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For Chinese steel mills, such a change in pricing is a double-edged sword. If the price is on a downward trajectory, a shorter-term contract is a good thing. If the price is bullish, a longer-term contract can help steel mills lock in a cheaper, stable price, aiding production scheduling. |
对于中国钢铁行业而言，定价体系的变化在某些情况下也将成为市场竞争中的"双刃剑"。若矿石处于下跌通道，短期定价对钢厂一方是有利的。但若矿价持续盘整甚至仍存在上涨预期，钢厂则偏向于长期、稳定的供货协议，因为这更有利于排产计划的制定。 |
| "If we receive the monthly offer, we have only to make a decision after careful study," said the manager. | "如果收到月度报价文件，我们要仔细研究一下才能做出选择。"上述钢厂人士对记者说。 |
| As the current domestic spot market for iron ore weakens, steel mills are generally choosing to stick to the sidelines. But the market is divided on where the price will go from here. Most people believe demand for the ore will exceed supply until 2014, when surplus supply will push prices downward. | 就目前而言，国内现货矿市场正呈现出弱势盘整态势，钢厂观望情绪依然浓厚。但长期趋势如何，市场存在一定分歧。大部分观点认为，在2014年前后，全球铁矿石供求结构将逆转，矿价将整体下跌。 |
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