It is reported the five Sino steel enterprises are planning to purchase 15% stocks of the largest Brazil Niobium Company (CBMM). It’s hard to get profitable return in short period, “long-term investment “is their aim.

To Chinese steel industry, this is a milestone for oversea promotion. China Niobium Investment Share holding Co., Ltd spent 19.5 billions USD on this procurement, the 5 Sino-enterprises share 20% stock each. Before, Korean Posco and Japanese NSC joint purchased 15% CBMM stocks.

In no less than 3 months, the steel mineral trend is not optimistic, for the great demand, the price in 4^th quarter is expected to remain high.

With expensive raw material and weak demand, Chinese steel industry is suffering low-ebb development. Bao steel used to enjoy high profit in industry, but the net profit fell about 40% compared with the same period last year. Many middle-large enterprises are considering promoting foreign resources to alleviate the adverse impact of mineral price fluctuation.

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