The China Securities Journal reported on Thursday that China is not ruling out a half-yearly price arrangement for iron ore whilst still insisting on the long-term future of the benchmark pricing system.
The paper quotes a source close to negotiations as suggesting the talks are likely to end on 1 April.
Meanwhile the New Express Daily has suggested that Chinese steel mills are to press for a ‘China price’ with a rise of less than 30 per cent. The newspaper suggested that such a plan would be difficult to put into practice as the world's top three iron ore producers are sidelining them and focusing on negotiations with Japanese and South Korean steel companies to set a benchmark price.
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