Iron ore price negotiations - Nanjing sees 10pct hike
Saturday, 21 Nov 2009
According to Mr Yang Siming chairman and CEO of Nanjing Steel Group, benchmark iron ore price for fiscal 2010 is likely to gain 5% to 10% as iron ore miners still take the lead over the supply and demand chain.
He said that nevertheless, the picture may be changed in a few years if foreign iron ore projects invested by Chinese companies start commercial production which would drag down the iron ore price sharply by then.
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