Vale monopolizes more than 40% of the world's iron ore trade and is seen as an invincible jumbo to outsiders. But Callum himself knows that this strength is actually very weak. Mining is a capital-intensive industry, and every step from acquiring a mine to building roads and purchasing equipment costs huge sums of money.

Vale has hundreds of billions of dollars in capital, but also hundreds of billions in debt. Every day, the company has to pay tens of millions of dollars in interest, and at the same time pay tens of millions of dollars in depreciation for the equipment it owns, and then count the rent, employee salaries and other expenses in branches and mines around the world, the company must ensure an annual operating income of more than 20 billion yuan to ensure breakeven.

What Qin Hai saw was this weakness of the Vale. He knows that the iron ore deal with Vale is vital for China's steel industry and, for Vale itself, a matter of life and death. If the talks between the two sides do collapse, the losses on the Chinese side will undoubtedly be greater, but Vale will not be able to survive alone, and it will also suffer a catastrophe.

Vale's confidence comes from the belief that China's steel industry is rational and will not be willing to fight with Vale. But it never imagined that China would really play with its heartbeat, and it would be compared with Vale to see who was the first to blink.

Does Callum dare to bet? Obviously, he didn't have the guts. China's posture is now warning Vale that if they don't give in, the Chinese will rather spend more money and find new sources of ore supply. If it really puts together such a pattern, China will lose billions or even tens of billions of dollars, which is something that a country can bear. And Vale will be completely bankrupt in this fight, even if Callum wants to play. The board behind him will not hesitate to show him a red card.

However, if the Chinese are scared and retreat, it is not in Vale's interest, so Callum must find a way to find out the Chinese's cards and see whether the Chinese really want to go to war or just bluff.

A top-secret email flew to the far east via an undersea fiber optic cable. It appeared on the computer display screen of Sun Zhenjiang, general manager of Pujiang Xinzhen Resources Trading Company.

Ten years ago, in a steel war, Sun Zhenjiang lost all the billions of assets accumulated in business for more than ten years, but fortunately, the elders of the family had some old connections at the top level, which helped smooth out the money he had lent in many banks, which kept his personal freedom. His original trading company was forced to close down, and he went abroad to stay for a few years to see that the limelight had passed, and then returned to China and registered this Xinzhen trading company in Pujiang. Specializing in the business of importing foreign minerals, the largest of its businesses is iron ore.

When he was doing business in the early years, Sun Zhenjiang had a group of little brothers who grew up together in the compound in the past, and they helped each other. During the steel war, Sun Zhenjiang dragged these little brothers into the water, and tried to get the little brothers to relieve him afterwards, which resulted in public anger. I almost didn't get hunted down by these little brothers. After returning to China this time, Sun Zhenjiang did not even dare to go back to the capital to do business. Not to mention joining forces with these little brothers.

As a lonely man, he can only go to the Vale. On the surface, he is an agent of Vale in China, but in private, he also serves as a commercial espionage. In the years when he was pouring steel, he had dealings with many domestic steel companies. In the later steel war, Sun Zhenjiang did not have a conflict with the iron and steel enterprises, and he can still be familiar until now. Plus he was able to get iron ore from Vale. After coming and going, he became a guest of various steel companies.

After receiving Joftz's email, Sun Zhenjiang was both excited and apprehensive. What excites him is that Vale has come to him on major strategic issues, which means that his position in Vale has increased. Later, there was also more capital to fight for profits. The apprehension lies in the fact that he knows what he is doing means, not to provide a little background information as usual, but to spy on China's most important industrial intelligence.

"Lao Tzu's face has been lost by you! If you get into trouble again, don't expect your family to save you again! ”

The angry shouting of the elders 10 years ago suddenly sounded in Sun Zhenjiang's ears. He subconsciously held his head and covered his ears, trying to block out the sound.

Do you want to take the risk and help Joftz with this? Sun Zhenjiang fell into a contradiction. One step forward can be an infinite return of interest, with the risk of jail time; And if he takes a step back, he will lose Vale's trust in him, and then stop in the mall, and can only live a poor life.

NND, wealth and wealth are in danger, didn't my father also carry his head to the battlefield in exchange for a prominent status and the glory of his descendants, why can't he take a risk?

Thinking of this, Sun Zhenjiang picked up the phone on the table, dialed a number, and greeted the phone affectionately: "Hey, Mr. Xiang, I will go to Hongyuan on a business trip tomorrow, do you have time to sit together?" ”

In the general manager's office of Hongyuan Iron and Steel Company, Pang Yongfu and Xiang Pengda sat opposite each other, the cigarettes in their hands forming long cigarette butts, and neither of them was aware of them.

"Sun Zhenjiang said that he can help us get iron ore from Vale." Xiang Pengda reported to Pang Yongfu.

"What channels does he have?" Pang Yongfu asked, "Hasn't the state strictly forbidden companies from having private contact with Vale?" …… This Qin Hai covered the sky with one hand and pitted us all, I want to see how he gets down the steps in the end. ”

"Qin Hai is now busy looking for minerals all over the world, and I heard that he has found Russia and wants to develop Dubias iron ore." Xiang Pengda continued Pang Yongfu's words and said.

Pang Yongfu sneered: "It's not that we haven't learned about the situation of Dubias Iron Mine. In the alpine zone, it is difficult to mine, and the iron ore is of low grade and high phosphorus content. ”

"So, we're going to have to find a way to connect with Vale. In the past two months, we have used domestic ore, although there is a subsidy from the Economic and Trade Commission, the cost is higher than that of Vale's ore, and the domestic ore grade is low, our equipment capacity can not be brought into play, and both ends suffer a loss. Xiang Pengda said.

Pang Yongfu lowered his voice and asked, "Lao Xiang, do you think Sun Zhenjiang is reliable?" ”

"It's hard to say." Xiang Pengda said, "However, his family is a little prestigious, and he still has some weight in speaking above." ”

"!" Pang Yongfu said disdainfully, "It's really weighty, in 93, this Sun Zhenjiang can be planted so ruthlessly?" ”

The steel circle is so big, and the steel war in 93 is not known to anyone in the circle. Xiang Pengda said with a smile: "That can't be helped, that time was led by the Planning Commission, and the liberalization of steel prices is related to the reform of the entire material supply system, which is the top priority of the country that year." Sun Zhenjiang played so much in this kind of thing, it's strange that he doesn't make a mistake. If it weren't for his parents to help him settle down, he would have been able to sit through the prison. ”

"This time, it's almost the same as back then." Pang Yongfu said, and then, he remembered something again, and couldn't help but shudder, and said: "I remember, Wang Hongsheng of the Planning Commission also used Qin Hai as a gunman, and it was that time that the Daqin Group established its authority in the steel industry, and it was also listed with the chief. This time it's Qin Hai again, you say, is this a bit of a fateful feeling? ”

"Mr. Pang, do you believe in this too?" Xiang Pengda smiled, "I feel that Sun Zhenjiang's game this time is not as big as last time." Isn't he just pouring a little iron ore in, can solve our urgent needs, even if it is a little contradictory to the notice of the Economic and Trade Commission, it is estimated that with the relationship between the above, there will be no big problems, right? The most important thing is that we are making a deal with him, and we don't know anything else, even if something happens to him, what does it matter to us? ”

"That's the same thing." Pang Yongfu nodded, "Now the Economic and Trade Commission is betting all the treasures on Qin Hai." They don't want to think that Qin Hai is a private enterprise, and even if he messes up this matter, the Economic and Trade Commission can't help it. We're different, if it drags on like this, we'll have to eat the red card in the province this year. ”

"Then you mean that we can contact Sun Zhenjiang?" Xiang Pengda asked.

"It's good for you to grasp this." Pang Yongfu said vaguely.

Phew, you old fox, Xiang Pengda scolded in his heart. He knew that Pang Yongfu was afraid of taking responsibility, so he asked him to go to the top tank. This matter is Pang Yongfu's achievement, and it can't be done because he advocates to Pengda without authorization, such a bad thing, where is Xiang Pengda willing to do it. He pretended to be embarrassed and said: "Mr. Pang, Sun Zhenjiang said on the phone that he wants to meet with you, of course, you can not talk about the ore matter, the main thing is to contact the feelings." I'm alone, and I don't have enough weight in front of him. ”

"This kid still has such a big score?" Pang Yongfu said indignantly, "Just because he is an outdated second-generation disciple, he dares to say such a thing?" ”

Xiang Pengda shook his head and said: "Mr. Pang, I don't care about his background, the main thing is that he still has a relationship with Vale. In the future, once the country is liberalized, we will reconnect with Vale, and we will have to use him to dredge it. Besides, he can now circumvent the control of the Economic and Trade Commission and get the ore of Vale, which will also be of great help to us. ”

"Well, in that case, it doesn't hurt me to meet him. However, let's talk about it, when it comes to ores, I won't speak, you just say it. Pang Yongfu advised.

Xiang Pengda was overjoyed and said, "No problem, I'll book a hotel." (To be continued......)