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Iron ore pricing should return to annual contract

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April 14 -16, 2010, the Boao Forum for Asia 2011 Annual Meeting held in Boao, theme: "Inclusive Development: Common Agenda and Global Challenges". The author interviewed the Managing Director of Tata Steel HMNerurkar:

Author: study said India was one of the biggest competitors of China's overseas mergers and acquisitions, and how do you think? Tata Steel in 2011 will not have a plan for the acquisition of iron ore?

HMNerurkar: light said looking overseas mineral raw materials and natural resources to light talk about India and China is wrong, every country in the search for mineral raw materials and natural resources, just from demand in China and India than in many countries more, because China and India are in the rapid development of the two economies, resource demand for raw materials is rising, but it comes to light demand for the resources of raw materials for China, India, the two countries This argument is wrong, because every country needs a stable supply of raw materials.

The answer to the second question is yes, Tata Steel has a series of plans to acquire more iron ore and coal assets, the reason is very simple, because Tata Steel Europe our production capacity will reach 17 million tons per year, but The raw materials can not be self-sufficient, so we need to acquire more iron ore and coal to meet our production needs in Europe. Including in the coal mine in India, we have some assets, but we lack the steel coking coal needs.

Author: how do you think the Chinese steel market? Tata Group is now in China is mainly TCS as well as iron and steel as well as the car business, the Tata Group which the Group business is likely to enter the Chinese market?

HMNerurkar: Chinese demand for infrastructure construction of the world's iron ore steel market will not affect China continue to build more infrastructure, but I think from the point of view of the iron and steel production capacity, China now has enough steel production capacity to be able to meet the needs of its own basis for facilities development of, and the Chinese iron and steel production can be put into the management is very good, in the past five to ten years among China's iron and steel production can have been in good management which, for China's development also needs to marginal increase production capacity, but China can be resolved. I think the Chinese do not do not need to import large quantities of steel to China, of course, two years ago, the situation is different, and that is due to the concentration of the start-up period for the construction of high-speed rail, making China a greater demand for steel imports temporarily at the time. Flying saw 

The second question, the Boao Forum BRICS plus mean emerging economies from the developed countries with economies get more power to influence? The business sector to Sanya BRICS forum also saw the industrial and commercial sectors of the BRICS leaders also saw a number of government officials. Mainly about two issues in Sanya the First BRICS how to learn from each other and share their very fast growth in all five economies, global governance parties of the second question discussed in Sanya, such as financial market standards and rules. Of course, business leaders from BRICS have a chance to come together, which is a very good opportunity to come into contact with each other. Also add that emerging economies like BRICS plus the emerging economies in the world which can not put it in isolation to look at, the BRICS plus the emerging economic world is an integral part of G20 is also the world's We can not be the emerging economies and developed economies separated to look at. Tata Group's principal business or three large, steel, automobiles, software, from the three main business is completed, there are some very important company of the Tata Group, Tata Power, Tata Communications Tower tower communications, Tata Communications as submarine cable services, Tata Chemicals, Indian Hotels Group, these groups are concerned about the Chinese business, business plan, compared to the first three big companies is still relatively early, but pay close attention to .

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