China is striving to unify the price of iron ore import

Dan Shanghua, Secretary-General of China Iron and Steel Association said on Thursday that China iron and steel enterprises would try to unify the price of iron ore imported from Brazil, Australia and India in the Iron Ore Price Negotiations of 2009.

¡±We are seeking for a unified importing price of iron ore from Australia, Brazil and India, which requires common efforts of the whole industry.¡± Said Dan Shanghua at a conference in Qingdao.

In the Iron Ore Negotiation of this year, common ground had been reached with Brazil Vale and Australian Rio Tinto.

Dan Shanghua said that Chinese steel and iron ore enterprises have been contacting with major international suppliers over the price for the long run. However, he added, negotiation over iron ore price would be hard against the unstable economic outlook.

China steel and iron ore industry has been losing in October, and predicted to make profit again two months later, he added.

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