Reuters reported that POSCO is still negotiating iron ore pricing with BHP Billiton.

Ms Youn-joung Choi spokeswoman of POSCO said that "Nothing has been determined, as we are still negotiating.’

BHP Billiton said earlier in the day that it had agreed with unnamed customers to take a 33% to 44% price cut for contracted iron ore shipments, covering 23% of its total sales volumes.

(Sourced from Reuters)