Senior Chinese steel industry officials has called on Beijing to consider abolishing spot iron ore trade and sharply has reduced the number of licensed importers, which they blame for undermining their position in deadlocked iron ore price talks. For full story, click here
Indian iron ore was flat from last week on steady overseas demand, although exporters hope China’s inconclusive talks on benchmark prices will lift prices. For full story, click here
China’s steel mills have not yet struck a deal on iron ore prices with foreign suppliers, an executive from a top steelmaker, rebuffing a newspaper report that China had given in on talks. Tian Zhiping, the vice general manager of Hebei Iron and Steel Group, stated: There’s still no deal so far. Negotiations are still [...]
China’s steelmakers have not given any ground in benchmark iron ore price talks and has denied reports that they could soften their insistence on a 40 percent price cut. Shan Shanghua, secretary general of the China Iron and Steel Association, stated: The position of the Chinese side has never changed. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
Mining giant Rio Tinto Ltd/Plc announced that its proposed deal with Chinese state-owned Chinalco would not influence iron ore contract price negotiations for the year ahead. For full story, click here
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