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Unexpected occurrence of the Rio Tinto "spy gate" incident, a mine close to the three major iron ore trading on the news refer to "look do not understand" - do not understand the three major mines operating in China for so many years, why at this time the first time such a sudden event; not understand KINGSTEK Hu and Rio Tinto companies, what is necessary to carry out espionage or any guess on the behavior of commercial bribery.

A hit with its eight or nine years in charge of dealings of the steel mill told our reporter, KINGSTEK Hu was born in 1963, graduated from Peking University in Rio Tinto has been working for quite some time, with major domestic steel mills and ore traders are more familiar with.

"Hu is a relatively easy KINGSTEK people to get along. Especially with the mining market is booming over the past few years, many aspects of Rio Tinto when the company's performance in the market is very strong. Although he is also on behalf of mining interests, but objectively speaking, in the market the transaction or the process of the buffer played a great role, but also listen to the requirements of customers and observations made. "Steel prices in the official said.

No book incidentally.

Beijing, July 8 in connection with a number of important mineral resources sector will have the management of those who said that the incident Shougang. An informed source told reporters that Tan is a new work was taken away, probably to the 5,6 of police cars.

Tan is in his capacity as project Shougang International Trade Corporation (in the first International) assistant general manager, mining, general manager of Import and Export Corporation. However, Shougang Group, the Information Services Department related to the reporters that was not clear on the matter.

According to the insider, as a result of a new charge of Mrs. Shougang iron ore import business, with very close between Hu KINGSTEK. Early in April this year, Hu was also personally went to KINGSTEK Shougang Corporation, on such issues as the price of iron ore including Tan Shougang new leadership, including communication.

Understanding of the Shougang Tan, a former colleague told reporters that Tan 40 early in the new, very smart people, earlier in the iron ore business has achieved good results, go step by step to place today.

Shougang a daily "old news" show, in 2004, the first one held international leadership positions open competition, Tsinghua University graduate, master's degree, business division titles to the new Tan by screening became the Ministry of the Minister of Investment.

Hu and Tan KINGSTEK two new iron ore trade has an important impact on accident figures in the circle to form a kind of official version is different from Australia, a Rio Tinto and China on the buyers of the chain between the commercial bribery are under way.

Regulation of iron ore trade off?

A senior industry source said the above, although Hu KINGSTEK expensive for the market value of the 100 billion U.S. dollars on behalf of multinational companies in China, but he had made frequent visits to some 34 small and medium-sized cities to promote the iron and steel factory, and most of them short-term contracts, KINGSTEK and Hu's mission is to mainstream and Chinese steel mills signed long-term supply relationship.

KINGSTEK with Hu, a long-term industry contacts, said Hu KINGSTEK to him the impression that the hard pragmatic, to have an in-depth understanding of the Chinese market.

Reporters also learned that the end of last year, Hu KINGSTEK Jiangxi Province on behalf of Rio Tinto with a set of steel-ping over the past decade, about 10 million tons on long ADPL mine contracts, including small and medium-ping of steel, including steel and mining giant private enterprises signed contracts long ADPL behavior of steel had been strongly opposed by the Association.

In addition, Hu KINGSTEK with Tangshan, Hebei, Shanxi and other small and medium-sized steel mills to reach an agreement. China Steel Association Shanghua Secretary-General had a single reporter said, resolutely oppose such behavior.

Hu KINGSTEK detainees against the background of the China Steel Association is prepared to go all out to rectify the order of domestic trade.

Association of a China Steel told reporters that China's iron ore trade order "is also confusing than expected," their own traders and steel business, but also a "very vulnerable to market manipulation."

China Steel Association in the above-mentioned persons, if Hu KINGSTEK detainees and others concerned with the iron ore negotiations, then "This is only the case only," "in the negotiations at the beginning of each year, the three mines will be immediately sent people to understand the different steel production circumstances, intelligence-gathering activities are quite intensive, Rio Tinto last year set up a one-on-one research group, in each of the districts in the mainland steel mills are accredited to the specialized market research staff. "

Does this mean the problem is the so-called spy contact?

Hu KINGSTEK in the first two months of detention, a senior national reporter's proposal to mine China Steel Association to reflect the existence of iron ore negotiations traitor, "China Steel Association to rectify the domestic trade market, focusing first on the three major mining investigation traitor . "

At present, the suspicions surrounding the commercial bribery has not been dispersed.

Insiders disclosed to reporters the Association long iron ore mine ore trade insider mang markets that the incident might be a hotbed.

"This is definitely confusion with the iron ore market order, in particular, in recent years among the poor ore sell and buy in the second hand, sooner or later I had a premonition before the above in this economic problem." Speaking on condition of anonymity, said the industry.

In recent years, China's iron ore demand due to the significant increase in the two created a unique market that is long and Trade Association ore mine. Between the trade price is usually much higher than mine long ADPL mine, but in the fourth quarter of last year's period of market downturn, the first time less than the price of long-HS.

"It's like the formation of a casino, given the arbitrage space." Steel enterprises in charge of the above-mentioned people to explain to reporters, "especially in the peak last year when the spot price of long-HS price reached 100 U.S. dollars / ton. A vessel 17, 180,000 tons of ore, if the price of buying a long-HS, sold at high prices to sell, you calculate how much profit that the middle? "

This is to some extent, caused by "illegal" in nature I hope to be able to get more long-HS mine, which achievements "performance" and "interests."

Ore imports for the phenomenon of speculation, investigation Correctional disturb market order parts of the intent, it is not available without trace. June 18, China Steel Association Secretary-General Shanghua in a single reporter had an interview, said: immediately speculators will start to participate in ore samples, "in violation of state regulations, you must TIRED."

Industry sources said that Shougang's iron ore operations, was caught, perhaps only the beginning. Next in Shandong, Hebei and other iron and steel powerhouse, but also related to the investigation will start.