From: news.xinhuanet.com
November 03, 2009 20:22 Beijing Time
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    BEIJING, Nov. 3 (Xinhua) -- China has yet to receive the official message from Rio Tinto that China can use a different pricing mechanism in the 2010 iron ore negotiations, said Chen Xianwen, director of the Marketing Department of the China Iron and Steel Association (CISA) here Tuesday.

    Sam Walsh, chief executive officer of Rio Tinto's iron ore unit, said Monday in Sydney that China could purchase iron ore under a new mechanism next year on the condition that China did not put up any unreasonable terms.

    "Setting a different pricing mechanism for China will be a beneficial solution both to China and Rio Tinto," said Chen.

    Shan Shanghua, secretary general of the CISA, said, "China will not accept the price that the three biggest mining companies offered to other countries' mills. Since China imports nearly half of the world's iron ore output, it's fai...

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