China Steel Asking For Lower Iron Ore Price
Investing News Network - 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.