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BEIJING, March 31 -- The shifting of a 40-year-old system of setting annual iron ore prices to a short-term pricing mechanism may shake up the Chinese steel industry by creating an even playing field for all steel mills - large and small - in terms of raw material costs.BHP Billiton said on Tuesday that it had concluded agreements with a significant number of Asian customers to shift pricing for the majority of its iron ore to short-term contracts, which are based on market prices.A worker at Liaoyang Iron and Steel Company, Liaoning province. There are 1,200 steel mills in China, but only 112 have licenses to import iron ore at long-term prices. Unlicensed firms have to buy iron ore from the spot market.Vale wants a new pricing system every quarter, said Pedro Gutemberg, director of marketing and research at Vale in Beijing on Tuesday, speaking at an industry conference"A more time-adjusted pricing mechanism is needed in order to better reflect real market prices," he said. "Benchmark prices are over. This is a market-oriented industry."That shift may be of some value to smaller steel mills."Vale has offered quarterly priced iron ore to us, which means we could buy iron ore at the same prices that large steel mills pay," said a sales manager at a small, private steel mill that doesn't have an iron ore import license.
GUANGZHOU, April 18 (Xinhua) -- China's trade volume will reach 5.3 trillion U.S. dollars by the year 2020, Li Gang, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, said Sunday.Li made the remakes at the ongoing 107th China Import and Export Fair, the country's largest trade fair, held in the southern city of Guangzhou.According to Li, China's merchandise imports and exports will hit 4.3 trillion U.S. dollars in 2020.Merchandise exports will top other countries and be 2.4 trillion U.S. dollars in 2020, 10.1 percent of the world total.Imports will reach 1.9 trillion U.S. dollars and rank second largest, accounting for 8.2 percent of the world total.Weighed down by the global financial crisis, the nation's foreign trade recorded a 13.9 percent year-on-year decline to 2.2 trillion U.S. dollars in 2009, with merchandise exports of 1.2 trillion U.S. dollars and imports of 1 trillion U.S. dollars.In the first quarter, foreign trade began to grow again, jumping 44.1 percent to 617.85 billion U.S. dollars, according to customs data.

HAIKOU, April 25 (Xinhua) -- China's fishery administration said on Sunday it had started regular patrols of the South China Sea, sending two vessels to take over from two others currently escorting Chinese fishing boats in the area."China Yuzheng 301 and 302 take over from China Yuzheng 311 and 202, which have been patrolling the sea area of Nansha Islands since April 1," said Wu Zhuang, director of Administration of Fishery and Fishing Harbor Supervision for South China Sea under the Ministry of Agriculture.He said the patrol ships were sent to escort Chinese fishing boats in the South China Sea and reinforce China's fishing rights of the waters around Nansha Islands.The two ships set sail from Sanya, a coastal city in China's Southernmost Island Province of Hainan, on Sunday.China's patrol vessels escort the country's fishing boats and help treat fishermen who fall ill, Wu said. Editor: Mu Xuequan
MINSK, March 25 (Xinhua) -- Under new circumstances, bilateral relations between China and Belarus are bestowed with great opportunities and have broad prospects, said visiting Chinese Vice President Xi Jinping in a meeting with Belarusian Prime Minister Sergei Sidorsky here on Thursday."Developing good relationship with Belarus is a policy that China highly values and will never change, regardless of the fluctuation of international and regional situations," said Xi.China is willing to further deepen and broaden bilateral ties with Belarus, said Xi. Chinese Vice President Xi Jinping (L) meets with Belarusian Prime Minister Sergei Sidorsky in Minsk, capital of Belarus, March 25, 2010.Economic cooperation is an important component of Sino- Belarusian strategic cooperation, which has transformed from commercial trade to economic and technological cooperation, said the Chinese leader.In order to further enhance bilateral economic cooperation, China and Belarus should pay close attention to the implementation of major comprehensive projects, and give full play to the role of the Sino-Belarusian cooperative committee of economy, science and military technology.The committee should step up guidance and coordination on bilateral cooperation, as well as map out priorities in practical bilateral cooperation under new circumstances, said Xi.Xi also suggested China and Belarus draw on each other's comparative advantages and explore new growth areas such as technological cooperation.
BEIJING, April 13 (Xinhua) -- China's drought relief authorities said Tuesday heavy rains had eased the drought in southwest China's Sichuan Province, but dry weather and high temperatures continued in other affected regions.Compared with data collected last Sunday, people and livestock facing shortage of drinking water in Sichuan had decreased by 500,000 and 560,000 respectively by Tuesday, said the Office of State Flood Control and Drought Relief Headquarters (SFDH).Heavy rains also reduced the area of affected arable land in Sichuan by 2.33 million mu (155,333 hectares) by Tuesday, according to the SFDH.However, drought still persisted in other areas, including the provinces of Yunnan and Guizhou and Guangxi Zhuang Autonomous Region as rain in these regions was far from adequate.As of Tuesday, drought had left 24.62 million people and 18.08 million livestock short of drinking water, said the statement.
来源:资阳报