The China Iron and Steel Association is seeking to sign long-term contracts with iron ore suppliers in India, South Africa and Vietnam as annual price negotiations stall, the 21st Century Business Herald reported.
China should step up cooperation with miners in those countries to secure alternatives to Australian and Brazilian ore, the newspaper reported, citing Shan Shanghua, general secretary of the association.
Atlas Iron Ltd., an Australian iron ore producer, has agreed to sell ore at prices that would adjust to spot rates, the report said, citing Managing Director David Flanagan.
Source: Bloomberg
No comments:
Post a Comment