The China Iron and Steel Association denied a China News Service report that said the group has stopped contract iron ore price negotiations with BHP Billiton Ltd and Rio Tinto Group.

Mr Wang Yanof CISA said “We did not publish such a statement.’

He confirmed that “The talks are still going on.”

He added that “We have asked the China News Service to remove the wrong story.”

China News, citing a statement from CISA, had reported that it on August 3rd it had decided to suspend the talks because the spot ore market has been seriously distorted.”

(Sourced from Bloomberg)