China Steel Asking For Lower Iron Ore Price

- December 6th, 2011

China Steel Corp. (TPE:2002) is asking iron ore suppliers to cut first-quarter prices because of slowing demand.

China Steel Corp. (TPE:2002) is asking iron ore suppliers to cut first-quarter prices because of slowing demand.

As quoted in the market news:

The Kaohsiung-based steelmaker is negotiating with Vale SA (VALE3) and other producers, Hung jui-pen, the company’s public relations officer, said today by phone. China Steel and Baoshan Iron & Steel Co. have asked suppliers, including BHP Billiton Ltd. (BHP) and Rio Tinto Group (RIO), to reduce prices by 23 percent to cut costs, according to the Economic Daily News.

Click here to read the full Bloomberg report. 

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