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COSTS AND PRICES OF IRON ORE

机译:铁矿石的成本和价格

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摘要

The table below shows the benchmark prices for key iron ore products in comparison with our estimates for average costs of production in 2011 Q3. In 2007, iron ore prices increased by 9.5% for lump and fines and by 5.3% for pellets at a time when the costs of production for iron ore were falling because of slightly lower oil prices. Production costs escalated rapidly up to the third quarter of 2007, moved slightly higher in 2007 Q4 and increased significantly through the first three quarters of 2008 before a drop of 15-20% in 2008 Q4. In 2009 Q1 production costs were stable. Profit margins on contract sales fell during 2007, as costs rose while contract prices remained unchanged through the year. Contract prices for 2008 at least compensated for the percentage increase in costs during 2007 and moved prices far above the costs of the marginal producers, except for pellets. As costs fell later in 2008 and into 2009 the profit margin on benchmark prices remained extremely high for all products.
机译:下表显示了主要铁矿石产品的基准价格,与我们对2011年第三季度平均生产成本的估计相比。 2007年,由于油价略低,铁矿石生产成本下降时,块矿和粉矿的铁矿石价格上涨了9.5%,球团矿的价格上涨了5.3%。到2007年第三季度,生产成本迅速上升,在2007年第四季度略有上升,并在2008年前三个季度大幅上升,然后在2008年第四季度下降了15-20%。在2009年第一季度,生产成本保持稳定。由于成本上升而全年合同价格保持不变,2007年合同销售的利润率下降。 2008年的合同价格至少补偿了2007年期间成本增加的百分比,并使价格远高于边际生产商的成本(粒料除外)。随着成本在2008年下半年和2009年下降,所有产品的基准价格利润率仍然非常高。

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