美媒：中国从未拥有过这般程度海运铁矿石定价权，将开始掌控局面

Core Insights - The international commodity market has seen significant developments, particularly with BHP signing an agreement with China Mineral Resources Group to settle iron ore trades in RMB starting from Q4 of this year, indicating China's growing influence in the iron ore sector [1] - Guinea's Simandou iron ore reserve, with 2 million tons of high-grade iron ore set for its first shipment to China in mid-November, further emphasizes China's control over iron ore resources [1] Group 1: China's Position in Iron Ore Market - China is the largest steel producer and iron ore importer globally, purchasing over a billion tons annually, yet it has historically lacked pricing power due to market dominance by three major companies [3][5] - In 2021, iron ore prices surged above $200 per ton, severely impacting Chinese steel companies' profitability, with foreign mining companies earning significantly more [3][5] Group 2: Challenges Faced by China - China's domestic iron ore is of low quality, leading to high processing costs, making it uncompetitive against high-grade foreign ores [5] - The concentration of imports from Australia and Brazil has left China with limited options, resulting in a lack of bargaining power [5] Group 3: The Simandou Iron Ore Project - The Simandou mine in Guinea has over 4 billion tons of high-grade iron ore, with an average grade exceeding 65%, making it a valuable resource for low-carbon steel production [7][9] - Chinese companies are deeply involved in the development and operation of the Simandou mine, allowing China to dictate terms based on domestic demand [9] Group 4: Infrastructure Development - The development of the Simandou mine faced historical challenges, including transportation issues and ownership disputes, until Chinese enterprises initiated infrastructure projects, including a railway and deep-water port [11][13] - The railway is now operational, and the first shipment of iron ore to China is imminent, with plans for full production to supply over 80 million tons annually [13] Group 5: Market Dynamics and Future Implications - The shift to RMB pricing for iron ore by BHP indicates a recognition of China's emerging influence and the potential for changing market dynamics [15] - The high-grade ore from Simandou will significantly reduce carbon emissions in steel production, aligning with China's dual carbon goals and enhancing resource security [15][17] - The awakening of Simandou signals a transformation in the global iron ore market, moving from a passive to an active role for China in price negotiations [17]