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In the first four months, the import of iron ore will cost 85.7 billion yuan. China will push the price index.
Constrained by high mining prices, China's imports of iron ore in the first four months of this year were 85.7 billion yuan more than the same period last year, which was 2.6 times of the profits of China's steel industry during the same period. China Steel Association is studying the launch of China's iron ore price index, but there is no specific timetable. Luo Bingsheng, deputy secretary of the China Iron and Steel Association, said in Shanghai on the 29th that the average price of imported iron ore in China in the first four months of this year was $157.6/ton, up 57% year-on-year. According to the iron ore import volume of 230 million tons in the same period, only the iron ore price increase, the Chinese steel industry will cost nearly 13.2 billion US dollars (in total, 85.7 billion yuan). At the same time, China's large and medium-sized steel companies in the first four months only achieved a net profit of 32.98 billion yuan, down 2.12% year-on-year. Of the 77 statistical objects, 8 suffered losses, with a loss of 10.4%. This means that the cost of the Chinese steel industry is 2.6 times its own profit.