The China Iron and Steel Association on Thursday dismissed market speculation that the 2009 iron ore price negotiations have concluded, calling them "unfounded rumors."

In a strongly-worded statement on its Web site, the association refuted media reports that the negotiations had ended.

The association also said rumors that Japan and Korea had reached a price agreement with mining majors BHP Billiton Ltd. (BHP) and Rio Tinto PLC (RTP), and Companhia Vale do Rio Doce (RIO), or Vale, were untrue.

It also dismissed speculation that China had agreed to benchmark rates 30%-35% off last year's rates.

"These media rumors are absolutely baseless," the association said.

-By Chuin-Wei Yap, Dow Jones Newswires; 8610 6588 5848; chuin-wei.yap@dowjones.com