Center
Iron ore traders 'to join contract talks'
By Yu Liang (China Daily)
Updated: 2006-09-28 10:12
 |
Large Medium Small |
China'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 China's Anhui Province. China'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 China's negotiating team was made by China's Chamber of Commerce of Metals, Minerals and Chemical Importers and Exporters and the China 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, China's largest steel producer Shanghai Baosteel Group was the only trader involved in negotiations with international suppliers.