Securities Times, citing Shan Shanghua secretary general of China Iron and Steel Association, reported that CISA is asking Chinese steel companies and traders with import licenses to stop buying iron ore in the coming two months from Vale SA, BHP Billiton and Rio Tinto in protest against what CISA sees as a price monopoly.

The newspaper cited Mr Shan as saying that Chinese steel industry's iron ore inventory, currently amounting to 75 million tonnes, is sufficient for steel mills to make regular production for two months.

The newspaper said that the boycott aims at global iron ore producers' unreasonable requests for price hikes and their move to a quarterly pricing system.

(Sourced from secutimes.com)