China's standoff with global miners over this year's iron ore term price isn't expected to be resolved this week, a person familiar with the matter said Monday.

Responding to comments last week by a top Chinese steel executive that a settlement could be reached this week, the person told Dow Jones Newswires an agreement this week was unlikely while Anglo-Australian Rio Tinto PLC (RTP) tries to resolve the issue of imprisonment of four employees, including Australian citizen Stern Hu, by the Chinese government on charges of espionage linked to the ore price talks.

Li Xiaowei, chairman of China's Hunan Valin Iron and Steel Group and a vice chairman of the China Iron and Steel Association, told reporters Thursday a settlement was expected in 10 days and China wouldn't accept a price cut of 33%, referring to the benchmark price Rio Tinto and BHP Billiton Ltd. (BHP) have agreed to with other Asian ore buyers.

The association is leading China in the price talks with Rio Tinto, BHP and Brazilian miner Vale S.A. (VALE), which have broken down amid the spying and bribery charges.

Li's comments also appear to have sparked internal disagreement among Chinese steel mills.

A Steel Business Briefing report Monday said steel industry sources doubted the talks could be concluded in 10 days as Li suggested.

An official from Baosteel Group Corp., China's largest mill by output, told Steel Business Briefing "he had heard nothing to indicate the negotiations will be completed soon."

"He knew of no schedule set for the talks to reconvene," the SBB report said.

The report also cited another unidentified mill official saying that, unless miners or mills presented a new proposal, the impasse was unlikely to be broken.

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