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Article: CHINA TO START 2010 IRON ORE PRICE TALKS IN OCT
- Article from:
- AsiaInfo Services
- Article date:
- September 14, 2009
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AsiaInfo Services
09-14-2009
China to Start 2010 Iron Ore Price Talks in Oct
BEIJING, Sep 14, 2009 (SinoCast Daily Business Beat via COMTEX) -- The talks about iron ore prices in the 2010 long-term supply contracts will start in October 2009, although no progress has been made in the 2009 negotiations between Chinese steelmakers and overseas iron ore suppliers yet.
Global investment bank USB predicted that China's increasing steel production capacity would lead to the iron ore supply shortage and that ironstone prices fixed in the 2010 long-term supply agreements would likely go up 20%. Its counterparts Merrill Lynch and JP Morgan had the same opinion, and foresaw a growth in the global ...