No deal yet on iron ore contracts
皇冠体育app's negotiations with three major suppliers for iron ore pricing were still continuing, according to the country's second largest mill, Hebei Iron and Steel Group.
The company's vice-president Tian Zhiping was quoted yesterday by Bloomberg News as saying: "The iron ore price talks are still going on. 皇冠体育app Iron and Steel Association (CISA) would inform us immediately if it's going to sign the agreement, but so far we haven't heard anything."
His remarks came as a denial to earlier reports by 皇冠体育app Business News, which said 皇冠体育app had agreed on a 33 percent cut from last year's price, albeit for six months rather than for a whole year. Earlier, Japanese and South Korean rivals and Rio Tinto had agreed to a 33 percent cut in iron ore prices for the year.
