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Baosteel: "Miners should reconsider prices as demand falls"
Chinese steel giant Baosteel said iron ore producers should "reconsider" the commodity's prices as demand falls. The company, China's second-largest steelmaker, said it is holding talks with mining groups and hopes to reach an agreement. Chairman Xu Lejiang told reporters that Chinese iron ore imports may equal last year’s level at best and could even fall.
“The supply and demand for iron ore has changed as prices fall”, the executive said. “This must prompt the suppliers to rethink ore pricing. We hope to reach a pricing system that’s sustainable over the long term”. Some other analysts also believe China will likely cut annual imports for the first time since 1998 because of slowing demand.
Publicado em: 15/7/2010 23:00:00
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8/9/2010 02:43:25 
