China Turns to Smaller Miners for Iron Ore Contracts
08-10 13:50 Caijing
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» China has turned to small and middle-sized iron ore miners for long-term contracts amid the ongoing stalemate with the world's three largest suppliers, the 21st Century Economic Report said.
» The newspaper said the China Iron and Steel Association has stepped up long-term contract talks with iron ore miners from India, South Africa and Vietnam.
» The report cited an executive from a miner based in the United Arab Emirates as saying that his company is holding talks with Chinese mills.
» The continuing deadlock between Chinese mills and global mining giants over contracts to March 2010 has provided smaller miners with a chance to get a foothold in the market.
From wires
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