2012年9月9日星期日

Chinese steel mills, iron ore bubble laugh not

September 6, Thurs. As the saying goes, the finance ministers to Chi, a person should be more lucrative, even socks more fat to wear on adrenaline climbed higher speed may feel good about themselves apart, stunned even incoherent, see also inertia is not strange.

The ground economic context as well as the development trajectory from local chaebol money come from the knowledge the whole picture, it is not difficult to see reflected. Hong Kong's richest property developers or by the built floor selling properties, wealth monopoly, "bricks and mortar" extra hot, has a long history.

Foam turn iron ore
Australia's richest man and source, whether we have heard? The fertilizer to the socks wear on the wealthy businessman, is located in Perth, Western Australia (Western Australia) to establish iron ore Kingdom Ms. Reinhardt (Gina Rinehart). She not only "full weight" (referring to the body), in his homeland of Australia's wealthy party fits-premier also to women in terms of net worth. Australia's Business Review Weekly "(Business ReviewWeekly) published this year, the Global 200 richest Reinhardt personal net worth of $ 28.48 billion, for the first time to overwhelm the U.S. retail giant Wal-Mart heiress Kyi Christie Walton ( Christy Walton, the net asset value of $ 25.3 billion), the birth of his first rich woman in the world.

Reinhardt has stunned the world, accusing the end of the hatred of the rich who only know how to smoke and drink social right and wrong, and "recommended" They spend more time trying to work to narrow the gap between the rich and the poor. His words, not only the Australian community and down motion, should have nothing to do with them, "Dr. Doom" Faber (MarcFaber) also could not help but plug in a mouth. Faber, although not directly point out why the incident, but referred to the past 40 years there have been four super asset bubble, in accordance with the timing for the gold of the 1970s, Japanese stocks in the 1980s, 1990s dot.com shares and ... ... is Rheinhardt this iron ore. The first three bubble long burst, and among the gold bull market is back from the dead, Japanese stocks and dot.com shares was brought to its knees. The price of iron ore recent sharp adjustment, but to assume that the bubble has to wear, too early to say. However, it is worth noting that iron ore prices jumped 10-fold in less than a decade, compared to a super-bubble in gold, Japanese stocks and dot.com shares are worse than. Reinhardt suddenly suffering from "mania", urged the Australian compatriots quit smoking quit drinking quit gossip, to work hard to break the world, does not rule out is a bad mood with iron ore trend speak incoherent gave so much due.

Chinese steel mills laugh not
A few years ago, the Chinese mainland steel mills soared year after year due to raw material prices, the profit margin has repeatedly under pressure, from beginning to end helpless bereaved.

It stands to reason, the richest woman in the world feel the worse, the more reason to laugh from the bottom of my heart, because iron ore prices fell overturned, equal to the steel industry raw material costs down, help to improve the profit margin. However, the message of the steel plants in the Mainland pig time to steel oversupply, is evident from the Chinese steel production increased from 683 million tons last year to 717 million tons this year; 2012 three quarters of unfinished steel production will Mainland economic slowdown in industrial production weakening environment at the level of the whole year of 2011, the imbalance between supply and demand intensified inevitable. Do not see the signs stabilized steel prices has hit a 33-month low, steel mills profit margin is not necessarily benefit from the fall in the price of iron ore.

The "Ray language Fupo mother and son fighting over the estate
Mainland steel mills to postpone the shipment of iron ore contract period, spot buyers retreat speculators seeing the momentum is not good, with a corresponding adjustment in the position deployment shock in iron ore demand in the short term, the results in the past few months prices diarrhea such as Note . In the past decade, Australia eat given the trend of China's resource-hungry to become poor immune. Up to 25% of the country's exports to the mainland of China, in which the iron ore accounted for Australia's exports to China worth up to 60%. The the this resource heat not only created Reinhardt earth Fupo, its the hometown Western Australia population is only equivalent to one percent in the country, but in the six states of Australia the fastest growing economies, the GDP per capita also ranks first among the country. A local illiterate miners, frequently more than 10 million Australian dollars annual salary, more than twice the per capita annual income for Australia; wage earners outside Australia, read too more have to "hate" word.

Reinhardt recently due to the dispute over property with four children brought before the court, the only son with two sisters on the same side, and mother try to drive down from the position of trustee of a family trust fund; youngest sister standing mother aside, the merits exposure. Reinhardt's son Hancock publicly revealed that he has been a mysterious Chinese tycoons his help, the full support of his family property to compete with the mother.

Reinhardt mother and because of the expense of justice, home of the world's richest woman off Chinese personnel. The Mainland increasingly bad economic momentum, iron ore "bust" (bubble burst, editor's note) recognized, I do not know how many people will show their colors?

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