The imposition of ore tax by exporting countries prevents domestic enterprises from taking mines overseas
the imposition of ore tax by exporting countries prevents domestic enterprises from taking mines overseas
China Construction machinery information
Guide: on May 4, foreign media reported that Indonesia (hereinafter referred to as Indonesia) will impose a 20% tariff on the export of 14 minerals, including iron ore, from May 6. It is reported that in addition to Indonesia, other countries will also successively raise tariffs or restrict the export of mineral resources. Among them, India and Vietnam will raiseOn May 4, foreign media reported that Indonesia (hereinafter referred to as Indonesia) would impose a 20% tariff on the export of 14 minerals, including iron ore, from May 6. It is reported that in addition to Indonesia, other countries will also successively raise tariffs or restrict the export of mineral resources. Among them, India and Vietnam will raise the export tariffs of iron ore, and Australia's carbon tax and mineral resource leasing tax will also be levied on July 1
in this regard, an industry source said that the successive tax increases in various countries will not only increase the cost of Chinese steel enterprises, but also inhibit the pace of Chinese steel enterprises' overseas investment in minerals. "China has realized that it wants to invest in mines or obtain equity mines abroad, but at the same time, foreign awareness of resource protection is also gradually increasing."
the short-term impact of Indonesia's tax hike is limited
at the press conference held a few days ago, Jero Wacik, Minister of energy and mining of Indonesia, told the media that a new mining investment and mineral product export regulation would be issued before May 6, stipulating that the ore export tax would be gradually increased and the export would be completely stopped in 2014. It is reported that the ban applies to copper, lead, nickel, gold, silver, zinc, chromium, manganese, molybdenum, platinum, antimony, bauxite, sea sand and iron ore; As a first step, the government will impose a 20% tariff on these ores
"judging from the mining investment and product export regulations to be issued in Indonesia, not only the adjustment time is very fast, but also the measures taken are very strict, and more consideration is given to their own mineral resources protection." Analysts said
however, Indonesian mines account for a small proportion of China's imported mines. Data show that in 2011, 11.87 million tons of iron ore from Indonesia were exported to China, while last year, China imported 680 million tons of iron ore, accounting for only about 1.8% of Indonesia's iron ore
in the view of analysts, Indonesia's export control is more an attempt to increase the added value of domestic ore resources. Because its per capita steel consumption is far lower than the world average, Indonesia may try to develop domestic steel enterprises and reduce the dependence of the domestic steel industry on imports
Gao Jing, an analyst at daotong futures, said in an interview that Indonesia's increase in iron ore tariffs will not affect the price of imported ore in the short term. "Indonesia's iron ore is mostly lean, and it is unrealistic to push up the price of ore. moreover, the demand of China's steel industry is not higher than that of previous years, and the short-term direct impact is not great."
in addition, the recent downturn in China's steel market will also depress imported ore prices. A survey showed that the spot market price of domestic steel continued to fall. Data showed that on May 3, the flat material index was 137.5 points, down 0.10% from the previous trading day, of which the medium and heavy plate index and hot rolling index fell 0.19% and 0.09% respectively
or restrain Chinese steel enterprises from taking mines overseas
in fact, in addition to Indonesia, many countries will take measures on mineral resources in succession. Among them, India and Vietnam will raise iron ore export tariffs. The advantage is that Australia's carbon tax and mineral resource leasing tax will also be levied on July 1. "Many countries will successively raise tariffs or restrict the export of mineral resources, which has become a trend." Some people said
it is noted that the "overseas mining" of Chinese steel enterprises is troubled by this new problem. In recent years, in order to break the absolute ridge of the three major miners, the KIC test of low-temperature fracture toughness can make a more reasonable evaluation of the cold brittleness of metals (see fracture mechanics). Chinese steel enterprises have increased the opening of import channels and achieved certain results. According to the data, although Australia is still the main exporter of iron ore, from January to February 2012, the proportion of African ore imports increased from 6.04% in 2011 to 6.95%, and the share of South American ore in import sources increased slightly, from 24.27% in 2011 to 25.92%
the increase of shared bicycle brands will lead to increased market competition.
"as the three major mines monopolize the iron ore market, China has expanded the import channels of non mainstream minerals to break the monopoly, but when more and more non mainstream countries began to implement export restrictions on mineral products, China's crisis came." Analysts said. It is reported that since Indonesia is not small among non mainstream iron ore exporters, it may drive neighboring countries such as Thailand and the Philippines to raise tariffs one after another
what worries analysts is that although the starting point of raising taxes in each country is different, if all countries follow the trend of raising taxes, the increase in upstream costs will not only be passed on to consumers, but also inhibit China's pace of going out to invest in minerals
analysts also believe that although Indonesia should not be overly panicked about raising tariffs, the protection of ore exports may appear in more countries in the future, "this will not only affect the protection of China's overseas iron ore resources, but also effectively affect the profitability of China's steel industry. The value project has overcome the key technologies of the injection machine CNC system, which deserves high attention"
and this negative effect has actually begun to appear. "If Australia imposes a resource tax, the impact on China's iron ore imports cannot be underestimated." Gao Jing said
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