Minmetals Chamber of Commerce Experts: Walking on Two Legs to Struggle for Iron Ore Negotiation

Xu Xu, president of the China Minmetals Chemicals Import & Export Chamber of Commerce, emphasized that in 2009, with a decline in iron and steel production and falling iron ore prices due to reduced market demand, China needed to adopt a dual strategy to gain an advantage in price negotiations. The remarks were made during the 2009 Iron Ore International Market Seminar held in Tanggu, Tianjin on the 13th, which concluded today. Xu highlighted that the "two legs" approach involved two key aspects: first, increasing overseas investments in mining to ensure a stable supply of iron ore for China, aligning with the "going out" strategy. At the time, the global iron ore market was a buyer's market, with mining companies in Australia and Brazil seeing their valuations hit historic lows, creating strong interest in foreign capital. This presented a favorable opportunity for China to expand its resource base abroad. The second leg of the strategy focused on fostering sincere cooperation among domestic enterprises, enabling them to speak with one voice during negotiations with international suppliers. By doing so, Chinese importers could strengthen their position in the buyer’s market and work toward mutual benefits for all parties involved. It is worth noting that the 2009 iron ore price negotiations, which started at the end of the previous year, were still ongoing, with both sides struggling to reach an agreement on price reductions. Recently, Rio Tinto proposed a temporary 20% price cut, but the Chinese side insisted on a minimum 40% reduction. The situation highlights the challenges faced by China in securing favorable terms amid a highly competitive and volatile global iron ore market.

Custom Thermoforming

Thermoforming is a manufacturing process used to shape plastic sheets into various custom design products. It involves heating a plastic sheet until it becomes pliable, then using a mold or a vacuum to form it into the desired custom shape.

Thermoforming and vacuum forming are both processes used to shape plastic sheets into specific forms. However, there are some differences between the two techniques:

1. Process: In thermoforming, a plastic sheet is heated until it becomes pliable, and then it is pressed against a mold using pressure or a vacuum. Vacuum forming, on the other hand, relies solely on the use of a vacuum to draw the heated plastic sheet onto the mold.

2. Mold complexity: Thermoforming is typically used for more complex shapes and intricate molds, as it allows for greater detail and precision. Vacuum forming, on the other hand, is better suited for simpler shapes and molds that do not require as much detail.

3. Material thickness: Thermoforming is often used for thicker plastic sheets, typically ranging from 0.030 to 0.250 inches in thickness. Vacuum forming is more commonly used for thinner plastic sheets, typically ranging from 0.005 to 0.060 inches in thickness.

4. Production volume: Thermoforming is generally more suitable for high-volume production due to its faster cycle times and ability to handle larger sheets of plastic. Vacuum forming is better suited for low to medium volume production, as it has slower cycle times and is limited by the size of the vacuum forming machine.

5. Cost: Thermoforming typically requires more expensive equipment and molds, making it a more costly process compared to vacuum forming. Vacuum forming, on the other hand, is a more cost-effective option for smaller production runs or prototypes.

Overall, thermoforming is a more advanced and versatile process that offers greater precision and complexity, while vacuum forming is a simpler and more cost-effective option for less complex shapes and smaller production volumes.

Thermoforming is a versatile process that is widely used in industries such as packaging, automotive, aerospace, and medical. It offers advantages such as cost-effectiveness, quick turnaround times, and the ability to produce complex shapes with high precision.

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