A report in the Chinese business magazine, Caijing, suggests that Rio Tinto Group is postponing negotiations with Chinese steel mills about benchmark annual iron ore prices. The magazine attributed the comment to Rio Tinto China Managing Director Anthony Loo.
Mr Loo is quoted as saying that Rio will wait “for a while to monitor the market situation. We hope conditions will be more normal after a few months, allowing for better negotiation”.
The talks may conclude after May, Caijing said.
Source: Caijing
Update from Reuters: Rio denies reports it has walked out of talks.
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