China Assoc:Rumors That Iron Ore Price Talks Concluded Untrue
May 20 2009 - 11:00PM
Dow Jones News
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