China Assoc:Unaware Of Iron Ore Price Agreement With BHP, Rio
July 15 2009 - 3:31AM
Dow Jones News
A senior China Iron and Steel Association official said he
wasn't aware of any iron ore term price agreement reached between
Chinese mills and Anglo-Australian miners.
Qi Xiangdong, the association's deputy secretary-general,
declined to comment further on a report that Chinese mills have
struck a deal for a 33% discount from last year's benchmark prices
with Rio Tinto PLC (RTP) and BHP Billiton Ltd. (BHP).
The association's secretary-general Shan Shanghua couldn't be
reached for comment.
Global miners, including Brazil's Vale S.A. (VALE), are in
protracted discussions with China for this year's term price, after
finalizing rates 33% lower than a year ago with other Asian
customers in late-May and early-June.
-By Chuin-Wei Yap, Dow Jones Newswires; 8610 6588 5848;
chuin-wei.yap@dowjones.com