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The EU said the international iron ore pricing temporarily be investigated

Author:    Views:1258    Time:2013-08-16
         For the European Steel Industry Association recently sent a letter to the European Commission, there is an international iron ore pricing monopoly suspects, and called on the EU to take measures to deal with complaints, the European Commission responded by saying that the EU does not currently prepared to initiate an investigation on this issue mechanism.
         The European Commission on March 31 said that the EU temporarily ready to investigate, but the European Confederation of Iron and Steel Industries contents mentioned in the letter will be ongoing, BHP Billiton and Rio Tinto merger investigation business in Australia to provide a basis .
         On behalf of the European steel business interests of the European Confederation of Iron and Steel Industry 31, 2011 sent a letter to European Union antitrust authorities said Rio Tinto, Vale and BHP Billiton three iron ore giants took control of three-quarters of the world iron ore market share, leading to market highly centralized pricing mechanism imbalance.
         The Federation believes that the international ore prices, iron ore pricing model as well as steel prices put pressure on individual criminal collusion behind the existence, in violation of EU antitrust rules.
         European metal industry liaison organization, the European Automobile Manufacturers Association and the Italian Union of Mechanical and engineering industry and other relevant organizations have joined the ranks of protest that is not conducive to the European iron ore prices soared improve employment and economic recovery.
         Global iron ore benchmark price negotiation mechanism long association for over 40 years in operation, the current face real challenges. 30, 2011, BHP Billiton official announcement, aimed at a relatively "short-term" pricing to replace the previous annual pricing. Another mining giant CVRD also issued a statement on the 29th, which means that this year will launch a new iron ore pricing mechanism

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