Chinese demand is down in the fourth quarter forced to land the three major ore ore price reduced by 10% announced.

<P> Soaring iron ore prices finally stop. .Yesterday, a number of steel companies said had been received from Rio Tinto, BHP Billiton, and CVRD's latest offer letter is given, starting from October the supply of iron ore price reduced by 10%, this is the first time in three ore price cut this year .. .Industry analysts generally agreed that China demand is forcing down prices of the main reasons for the three mines. .</ P> <P> ore prices this year, the first drop </ P> <P> the latest Customs statistics show that the first three quarters of domestic iron ore import 460 million tons, down 2.5%, with import price .$ 121.7 per ton, up 56.4%. .China Minmetals Group deputy general manager, who declined to be named, said: "China is the largest buyer of the three mines, the current slowdown in the steel demand, reduced response to the current spot price ore mine Market." </ P> < .P> China's Economic Development Research Center of Metallurgical Industry Vice Renchen Ling Analysis: "the three fundamental factors ore prices down is the rate of increase in steel demand down, which led directly to steel prices decline in iron ore demand for raw materials." According to the briefing .in recent months, the domestic steel market run weak, iron ore prices remain high, the pressure of a larger business. .Coupled with the Government target of energy saving power restriction to limit production than expected, leading many companies active or passive cut, weakened demand for raw materials. .</ P> <P> In addition, the continued tightening of real estate demand for construction steel has been greatly inhibited. .The elimination of backward production capacity, "the steel industry production standard operating conditions" were all inhibited the rise in the iron and steel production, demand for raw materials naturally inhibited. .</ P> <P> fourth quarter iron ore imports will rise </ P> <P> However, with the third quarter rose nearly 30% of iron ore rate compared to the fourth quarter have dropped 10% of Chinese steel .enterprises is not much good. .The industry admits, dominance of the three mines is still not changed. .</ P> <P> "My steel" net Jiesheng analysts had predicted earlier, the ore prices high and other reasons, the domestic steel prices are limited to purchases, and with the decline in the fourth quarter of ore and steel prices in raw materials prices .inventory reduction, inventory fill the needs of late there, iron ore imports in the fourth quarter it will have a certain level of improvement. .</ P> <P> expert analysis, said: "To break the bottleneck of iron ore, the key is to control the rapid growth of steel production. The first 8 years of steel production is a spurt of development, showing double-digit growth, iron ore .supply can not keep up, to the three major ore price increase 'emboldened'. "</ P> <P> steel prices," self "significantly increase </ P> <P> we all know, has been in the iron steel industry .ore negotiations are in a passive situation, and in order to reverse the weak position of the Chinese steel prices began to increase ore self-sufficiency ratio. .Currently, China's dependence on imported iron ore is reduced. .</ P> <P> example, the global control of Wuhan Iron and Steel now has reached a hundred hundred million tons of iron ore resources. .Qi Tang Lin, general manager of Wuhan Iron and Steel has said publicly that there will be 600 million tons this year, Wuhan Iron and development of ore transported back overseas, accounting for 25% of demand, five years after the Wuhan Iron Ore will be fully self-sufficient. .</ P> <P> Hebei Iron and Steel Group is also clear that each of the next five years the amount of additional 500 million tons of iron ore self-sufficiency, to the "Twelve Five" to self-sufficiency rate of 35%, with domestic iron ore supply ., the dependence on foreign ore more from the current 50% to 30% less. .</ P>.