First, correct the following misconceptions. The main reason for the sharp drop in steel prices this year is not the sharp rise in Xie Chang mine prices last year, but the impact of the economic crisis.

This iron ore launch is very unfavorable to Sinosteel, but for the market, it may drive the market price up. Because the current spot mine price is cheaper than that of Xie Chang mine, it has been reduced by 33%, so China does not agree to the 33% reduction. The iron ore negotiations between China and Australia are far from meeting expectations, so miners are full of confidence in the market outlook, and the profit margin of spot ore has also led to the recent increase in sea freight.

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