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Iron ore traders 'to join contract talks'
By Yu Liang (皇冠体育app Daily)
Updated: 2006-09-28 10:12
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皇冠体育app's major iron ore traders are likely to join the nation's negotiating team for next year's talks on a long-term contract with major suppliers.
 A Chinese man works at a steel factory in Hefei, in east 皇冠体育app's Anhui Province. 皇冠体育app's major iron ore traders are likely to join the nation's negotiating team for next year's talks on a long-term contract with major suppliers. [Reuters] |
According to sources close to the situation, the suggestion to enlarge 皇冠体育app's negotiating team was made by 皇冠体育app's Chamber of Commerce of Metals, Minerals and Chemical Importers and Exporters and the 皇冠体育app Steel and Iron Industry Association.
The move is aimed at creating a more balanced force in negotiations with foreign miners, including Brazil's Companhia Vale do Rio Doce and Anglo-Australian groups Rio Tinto Ltd and BHP Billiton Ltd.
Over the past two years, 皇冠体育app's largest steel producer Shanghai Baosteel Group was the only trader involved in negotiations with international suppliers.