Business Spectator reported that China Iron and Steel Association will end its first and only tumultuous year at the head of China's iron ore price negotiations as Baosteel will resume its traditional role leading talks with foreign miners.

The Australian reported China has ended CISA reign over pricing talks after its often aggressive stance led to record stockpiles of iron ore and a leap in spot prices that currently stand at over USD 100 per tonne.

Mr Shan Shanghua CISA chief told China Business News that Baosteel will lead talks with foreign miners to set next year iron ore price in December.

CISA is expected to retain an organizing role in the Background of China's future price negotiations. It refused to accept price standards set by Japanese and Korean standards and continued to push for cuts of between 40% to 45% although later conceded to a 33% price cut.

The Chinese steel body encountered resistance from mining giants such as Rio Tinto and BHP Billiton in a highly publicized pricing battle that has become subsumed in a spying row between China and Australia.

(Sourced from Businessspectator.com)