As soon as the Year of the Rabbit arrived, Rizhao Steel Group faced the dilemma of being detained in Australia. However, Rizhao Steel did not seem to have much concern about this, but rather cooperated with Minmetals in a big way. For Shandong Iron and Steel Group, the future home of Rizhao Steel, the reorganization of the limit will come, and Japan Steel will regenerate its variables, which will undoubtedly bring new troubles to the restructuring. The liquidated damages case has repeatedly failed to resolve the liquidated damages between Australian miner Mount Gibson Iron Ltd and Rizhao Steel Group, which has forced Gibson Hill to use “drug tricksâ€. According to local media reports in Australia, Gibson Hill has applied to the arbitration institution in early February, hoping to seize the iron ore cargo of other miners by detaining Rizhao Steel Group in Australia, in order to recover the Rizhao Steel Group’s need to pay $114 million. Contract liquidated damages. At the same time, Ai Lun, chief financial officer of Gibson Hill Iron Mine, said that a ship's iron ore of Rizhao Steel may be worth only 15 million US dollars or 20 million US dollars. I don't know if other iron ore producers will help Gibson Hill. Some insiders said: "Because the arbitration case belongs to the trade secrets of both parties, the arbitration process and the ruling instrument are not open. Therefore, whether Japan Steel is detained at the Australian iron ore is still dependent on whether the Australian arbitration institution has approved it. The application filed by Gibson Hill is legally valid because of the arbitration result. According to the reporter, the cooperation between Gibson Hill and Japan Steel began in 2007, and the two parties signed a long-term supply contract for 15 years. The dispute between Gibson Hill and Rizhao Steel began during the global economic crisis in 2008, because the price of iron ore long association was much higher than the spot price, making most steel companies in China, including Japan Steel, refuse to follow the long-term The price is to buy imported iron ore and switch to the spot market. However, so far, Nippon Steel is the only Chinese steel company that has been formally filed by the miners, and the world’s three major miners have not formally filed claims with other Chinese steel companies that have defaulted. This has to be confusing. . "Other big miners are not as chasing as Gibson Hill. It is not that other big miners have given up their losses, but because of the cooperation in the interests, they have not made things big, but they are in the later transactions. He has severely punished other Chinese steel companies. He Rongliang, a steel analyst at the China Merchants Productivity Promotion Center, told the China Times reporter. A person close to Rizhao Steel Group said: "The relationship between Rigang and Gibson Hill is so stiff, mainly because the quality of the iron ore provided by the Australian is not qualified, which leads to the final termination of the contract." Hu Zhengwu, an analyst at Union Metals, said "According to the current international iron ore price, Rizhao Steel will re-find other sources of supply, which will undoubtedly increase its raw material costs." "For the sake of profit, the two sides will reach an agreement to avoid losses. In this way, the two sides will continue to cooperate. It's possible to go on," many industry insiders said. Reconciliation needs to find Shougang to help if the Australian Arbitration Agency approves Gibson Hill to detain Nippon Steel's iron ore in Australia, it will undoubtedly have a certain impact on the development of Nippon Steel. “In addition to the Australian mines, Nippon Steel can also help Brazilian steel, spot mines or seek the help of Shansteel in terms of raw materials. If the iron ore is really deducted this time, it will definitely have a greater impact on Nippon Steel.†Hu Kai, an analyst with the joint metal mesh iron ore, said. It is understood that at the beginning of this year, the spot price of iron ore broke through 190 US dollars / ton, a new high. The price of the long association is still around $150/ton, with a difference of nearly $40/ton. "If Rizhao Steel buys the spot price to fill the shortage of raw materials, it will undoubtedly greatly increase its cost. According to this, Japan Steel will not be able to eat it," said Hu Zhengwu, an analyst at Union Metal. “Recently, Brazil is in the midst of floods. In addition to guaranteeing the supply to the European market, I am afraid there will not be too many mines for Japan Steel. In terms of Shanshan Steel, the best efforts of Shangang can only be done. In the medium of iron ore supply, I am afraid that there will not be too many mines to be distributed to Nippon Steel," Hu Kai said. The above analysts also said: "Although, Nippon Steel can get iron ore in many channels, but the proportion of iron ore in Australia is the largest. For the benefit and cooperation of both parties, the settlement is still relatively good. The biggest shareholder of Gibson Hill is Shougang, and it will not be too difficult to coordinate.†It is reported that in 2008, Asia-Pacific Resources and Shougang International, a listed company of Shougang Group, agreed to subscribe for a total value of A$96.5 million at a price of A$0.60 per share. Abandoning the additional shares, the issuance method is to issue 1 share for every 5 shares. In addition, Shougang International also purchased 110 million shares of common stock at the Gibson Hill Iron Mine at the same price, with a total financing amount of A$66 million, making Shougang the largest shareholder of Gibson. "If Nippon Steel can get help from Shougang, it will be easier to solve this problem," Hu Kai said. Restructuring and reappearing the doubts. This time, will the Rizhao Iron and Steel Group's iron ore be detained, will it bring a glimmer of life to Shansteel's restructuring of Japan Steel? Many people in the industry said: "If Shangang comes forward to help Nippon Steel to settle this situation, it will certainly help the restructuring." Some insiders also said: "The possibility of restructuring at the end of February is very small. Steel and Shanshan Steel have the same strength, and iron ore will be detained. Nippon Steel is also fully capable of setting itself up. It is estimated that it will not let Shangang intervene.†It is understood that in 2010, Japan Steel achieved sales revenue of 45.3 billion yuan, the group The net profit for the year was 4.5 billion yuan, which is much higher than that of Shangang. Many people in the industry said that for the Japanese steel that was “arranged for marriage†by the government, if it was “married into the giantsâ€, China would have lost a private enterprise like Shagang. Previously, Du Shuanghua, chairman of Nippon Steel, once said: "Everyone can only have one choice. They must fully promote the success of the reorganization, and they must live each day in accordance with the long-term law. Can not sit and wait for reorganization, if they are sitting If the company is in yellow, it will not need to be reorganized." "When Japan Steel reorganized its state of consolidation, it chose to administer Yingkou enterprises, which is a sign that the management of Nippon Steel is not sitting waiting for restructuring, which indicates that the management of Nippon Steel has begun to focus on production, thus Let the value of the enterprise be reflected, so that regardless of the restructuring, it will be beneficial to Nippon Steel." He Rongliang said.
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