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| TITLE |
Iron ore miners plan to hold out on prices |
| WRITER |
administrator |
DATE |
2009-03-04 10:55:30 |
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Iron ore miners plan to hold out on prices
By Javier Blas in London and Patti Waldmeir in Shanghai
March 3 2009
Iron ore miners plan to postpone any agreement in annual negotiations with steelmakers until as late as the summer, betting that demand, and therefore market prices, will improve.
Senior executives involved in the talks told the Financial Times that annual iron ore benchmark prices were still likely to drop for the fiscal year starting on April 1, but said that by waiting longer than normal, they hoped to avoid a large cut.
Iron ore miners plan to postpone any agreement in annual negotiations with steelmakers until as late as the summer, betting that demand, and therefore market prices, will improve.
Senior executives involved in the talks told the Financial Times that annual iron ore benchmark prices were still likely to drop for the fiscal year starting on April 1, but said that by waiting longer than normal, they hoped to avoid a large cut.
Resource from www.ft.com |
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