It is said that Vale still insisted on 10 percent reduction of the 2009-2010 iron ore contract price, and this proposal is firstly been raised by the end of January. But China"s iron and steel manufacturers have asked for a greater rate of decline.
The China Metallurgical Mining Enterprise Association (CMMEA) said that if China is willing to accept lower prices for iron ore 10 percent of the proposal, Vale will immediately sign the contract price, but no manufacturer is willing to accept it.
China Iron and Steel Industry Association (CISIA) and Baosteel Group are working with Vale, Rio Tinto and BHP Billiton on the three iron ore giants 2009-2010 iron ore contract price negotiations. Source:Yieh.com
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Wednesday, February 25, 2009
10:05 |
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