|
|
|
| NEWS |
|
|
|
| Welcome to Wanjoo Metals |
HOME > CUSTOMER CENTER > NEWS |
|
|
|
|
| TITLE |
China steel mills deny ore price settled |
| WRITER |
administrator |
DATE |
2009-07-10 09:42:55 |
|
|
|
China steel mills deny ore price settled
9/07/2009
China's second largest steel maker has contradicted reports the industry's iron ore contract price negotiations with major miners have been settled, saying the talks continue.
This year's round of talks have dragged on longer than before - beyond the June 30 deadline - as Chinese steel mills hold out for a cut larger than the 33 per cent reduction negotiated between mining giants and Japanese, Korean and Taiwanese steel producers for iron ore fines.
Unconfirmed reports citing the China Business News website on Wednesday claimed Chinese steel mills had accepted a 33 per cent price cut, backing down from its targeted 40 to 45 per cent reduction.
However, a report on the website of Chinese news agency Xinhua on Thursday, based on a Bloomberg article, quoted Hebei Iron and Steel Group vice-president Tian Zhiping as saying "iron ore price talks are still going on".
"China Iron and Steel Association (CISA) would inform us immediately if it's going to sign the agreement, but so far we haven't heard anything," Mr Tian said.
CISA, which leads the talks and whose members represent 90 per cent of China's steel output, on May 31 refused to accept Rio Tinto Ltd's 33 per cent price cut with Japan's Nippon Steel.
"The association might agree to conduct negotiations on a biannual basis with talks for the second half now underway," Xinhua said.
Resource from http://money.ninemsn.com.au |
|
|
|
|
|
|
| [ L I S T ] |
|
|
|
|
|
|
|
|
|
|
|
|
WanJoo Metals All rights reserved. |
|
TEL : +82-2-585-2581, 2571, FAX : +82-2-585-2587, 8799 |
|
FL.2 DaedeokPlaza Bldg, 206, Geumgok-Dong, Bundang-Gu, Seongnam-Si, Gyeonggi-Do 463-480, Korea |
|
|
|
|
|
|
|
|
|
|
|
|
