China Assoc: Iron Ore Price Talks Won't End In June - Radio
June 22 2009 - 7:32AM
Dow Jones News
The China Iron and Steel Association said benchmark iron ore
price negotiations between Chinese steel mills and global miners
aren't expected to end this month, National Radio reported
Monday.
"The negotiation this year definitely can't be finished by the
end of June," the report said, quoting an unnamed association
official.
Negotiations were widely considered to have June 30 as an
informal deadline, because a large batch of 2008-09 benchmark iron
ore contracts are set to expire on that date.
The National Radio report said the association was still firm on
its position, referring to China's demand for a 40%-45% cut from
last year's benchmark, which global miners have rejected.
-By Chuin-Wei Yap and Liu Li, Dow Jones Newswires; 8610 6588
5848; chuin-wei.yap@dowjones.com