The proposal that iron ore rises to the national strategic level has finally been answered, and the Chinese steel industry has been calling for three consecutive years. The newspaper was informed that a few days ago, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Commerce and other relevant departments are jointly studying China's response to iron ore related policy measures, including addressing the financial phenomenon of the iron ore market, steel companies to go out to study the countermeasures, regulate iron The import and export trade of ore, the rectification of the domestic import order, and the anti-monopoly investigations that may be involved in some specific mergers and acquisitions by foreign giants. This means that the government has begun to deploy the increasingly serious iron ore problems facing China from the perspective of industrial security. A confirmed detail may better demonstrate the government's attitude toward iron ore issues. Some time ago, the top executives of Rio Tinto, one of the three major mines, went to the National Development and Reform Commission to meet with relevant leaders. The two sides talked about iron ore negotiations and the growing profit margin between mining companies and steel companies due to pricing problems. During the meeting, Rio Tinto said that iron ore negotiations are commercial activities and the price increase is caused by the market. However, the National Development and Reform Commission responded that China respects market rules and that iron ore prices are affected by market factors. However, the profit and profit level of the supplier is 20 times that of the demand side. It is not only a market factor but a high distortion. The product of the market. Iron ore negotiations are corporate behavior, but if industry security and the employment of hundreds of thousands of people are affected, it will involve the government. During this meeting, the National Development and Reform Commission warned Rio Tinto that iron ore negotiations could not affect industrial security and employment could not be affected. The two sides should strengthen cooperation and strive to achieve a win-win situation. It is also known that in the past few years, the three major mining companies such as BHP Billiton have become more and more obvious about the iron ore financialization tendency, and the Ministry of Industry and Information Technology has begun to study related countermeasures. Multi-sectoral response to the iron ore crisis, the Ministry of Industry and Information Technology said that the iron ore negotiations in recent years, due to price increases and the hard-line change pricing mechanism of the mine, have already had a great impact on the Chinese steel industry, so that the profit margins of China's large steel companies have been At a low level, it has put a lot of pressure on steel companies to further produce and operate. And some small and medium-sized steel companies face a loss situation all the year round. In mid-February this year, the 2010 financial report of Rio Tinto Group and Chinese steel companies was announced one after another. The result was astounding. The net profit of Rio Tinto's year was more than 14 billion US dollars, equivalent to the total profit of more than 70 large and medium-sized steel enterprises in China. . According to the statistics of the Steel Association, since 2003, Chinese iron and steel enterprises have paid more than 200 billion US dollars because of the unreasonable price increase of iron ore. This result has attracted the attention of the government. Not long ago, in a meeting between the National Development and Reform Commission and the top of the Rio Tinto Group, the National Development and Reform Commission said that the emergence of the above situation is a product of a highly distorted market. If iron ore negotiations affect industrial safety and employment for hundreds of thousands of people, then it involves the government. This is the first time the relevant government department has indicated to the mining company that the iron ore problem has touched on national security issues. Since the end of February this year, after the retiring of Luo Bingsheng, Shan Shanghua, Chen Xianwen and others who are responsible for coordinating iron ore negotiations, the iron ore negotiations between the Chinese steel industry and mining companies have disappeared. It is understood that most of the major steel mills have signed agreements in accordance with the requirements of the mining company, including monthly and quarterly forms. On March 31, relevant persons from the Ministry of Industry and Information Technology revealed that the original system of China’s participation in iron ore negotiations has not changed. China Steel Association is still the organization and coordinator of negotiations on behalf of the industry, and Baosteel is directly negotiating. But behind the continuation of this mechanism, there have been many changes. The relevant departments have established a joint response team to jointly study the increasingly unfavorable iron ore situation facing China. According to the division of functions, the Ministry of Industry and Information Technology belongs to the management department of the steel industry, and the iron ore problem is also within the scope of the policy. However, the above-mentioned Ministry of Industry and Information Technology said to the newspaper, "Whether the original Chinese mechanism of iron ore negotiations should be changed, and whether the China Steel Association will continue to serve as an organizer, these problems are not made by the Ministry of Industry and Information Technology. This requires a higher-level decision." The “higher level decision†means that the research on iron ore negotiation related countermeasures has exceeded the level of the general ministry. Responding to the financialization of iron ore It is said that the current research on iron ore problems involves at least the participation of the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Commerce. The relevant policy measures being studied include how to deal with the iron ore market being financialized. Phenomenon, iron and steel enterprises go out to study countermeasures, regulate iron ore import and export trade, rectify domestic import order, and anti-monopoly investigations that may be involved in some specific mergers and acquisitions by foreign giants. The government’s response to the iron ore market may not be more than that. It is reported that the establishment of iron ore resource security system has become one of the important tasks of the relevant ministries and commissions during the 12th Five-Year Plan. In addition to continuing to encourage steel companies to go out and participate in overseas mine investment, they also encourage enterprises to actively participate in the shipping market, terminals, and overseas. In terms of mine bases and related supporting facilities, measures are taken to prevent mining companies from further monopolizing major iron ore ports and shipping routes. Among the measures currently being studied by the relevant departments, including the countermeasures against China's response to the trend of iron ore financialization. It has been confirmed that the relevant departments of the Ministry of Industry and Information Technology have begun to deploy related enterprises and institutions to start research. On January 29 this year, the Indian Commodity Futures Exchange (ICEX), located in Mumbai, announced the official launch of iron ore futures products. This is the first exchange in the world to launch iron ore futures. Previously, under the impetus of BHP Billiton, iron ore pricing has been indexed. Under the impetus of the international TSI index, MBIO index and Platts index, Singapore Exchange, London Clearing House, Chicago Mercantile Exchange, US Intercontinental Exchange, etc. Launched iron ore swap trading business. Shun Shanghua, secretary-general of China Steel Association, said that behind the iron ore index adopted internationally, there are basically three major mining companies. The trend of mining giants to promote the financialization of the iron ore market has become very obvious. Officials from the Ministry of Industry and Information Technology said that from the development track of international commodities such as oil and agricultural products ( 16.56 , -0.14 , -0.84% ) and nonferrous metals, financialization is an inevitable trend. He believes that because iron ore is absolutely monopolized by resources, China has basically no right to speak. Therefore, it is more reasonable to respect the facts that are happening and to gradually study countermeasures. According to reports, the specific contents of the research conducted by the Ministry of Industry and Information Technology include: exploring the mechanisms of financial derivatives such as iron ore futures market and index market, and what forms of Chinese companies are involved, and how to avoid being passive again. In the plan of the Ministry of Industry and Information Technology, the specific research work will absorb a large number of forces from finance, information, investment banks and other aspects. In the opinion of the Ministry of Industry and Information Technology, any financial derivative has great extension and professionalism, and most traditional steel companies lack experience in these areas. But for now, China's response to the iron ore financial market will be extremely difficult. According to the preliminary understanding of the Ministry of Industry and Information Technology, major domestic steel companies have basically not really understood the financial market. Moreover, there are certain institutional obstacles in the implementation of financial derivatives in Chinese steel companies, because most of the enterprises are state-owned enterprises, and the case of China Aviation Oil Chen Jiulin is used as a guide. The Ministry of Industry and Information Technology is also looking for feasible ways for steel companies to participate in iron ore financial products under the constraints of the existing system. Officials said, "If state-owned enterprises can't, can they be implemented in some relatively large private steel companies? If a large steel group is involved in financial derivatives trading, why can it start with its securities companies or investment companies? However, officials of the Ministry of Industry and Information Technology also admitted that it is unrealistic to let Chinese steel companies participate in the iron ore financial market on a large scale. "After all, this is a new market, and the three major mining companies are also groping, but Chinese companies must be prepared for the response." At present, the Ministry of Industry and Information Technology has begun the preliminary investigation of the financialization of the iron ore market. In fact, some relevant domestic institutions have begun to prepare for the financialization of iron ore. Institutions such as “My Steel Network†and “China United Metal Network†have launched their own iron ore indices, and some traders and steel companies have begun to try to participate in foreign swap transactions. Xu Xiangchun, director of information for my steel network, said that the Chinese steel industry should seek bargaining power in the financial market. The state should support relevant domestic financial institutions to study China's price index model, and study the corresponding hedging mechanism to resolve risks for enterprises. For example, index pricing, we can also insist on setting up index trading venues in China and adopting price indices from China in the iron ore market. Looking at it now, the iron ore negotiations initiated by China Steel Association and Baosteel are returning to the relevant ministries and commissions after nearly a decade of embarrassment. Shan Shanghua, the secretary-general of China Steel Association, once said that the current situation of China's iron ore negotiations is caused by the whole system, far from being solved by an individual, a certain enterprise or an association. Liu Zhenjiang, secretary of the China Steel Association Party Committee, said that the experience of these years tells us that it is impossible to solve the iron ore problem by negotiation alone. People earn one year in a year, and how much the price can raise is high. If you hope to reduce the price of iron ore through negotiations, you should not make this dream again. Now, the relevant ministries have begun to seek a breakthrough in iron ore to protect industrial safety. For the entire bloated and scattered steel industry, many of the previous policies have the predicament of “easy to go, difficult to operateâ€. In response to the financial situation of iron ore, it is also facing many unknown tests. 
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