SteelOrbis Shanghai
The third round of
iron ore price negotiations between
Baosteel -the representative of Chinese steelmakers- and the world's three largest
iron ore producers –Australian
BHP Billiton,
Rio Tinto and Brazilian CVRD- has formally started.
After two rounds of preliminary negotiations, the parties will now try to make a deal on the prices. The parties will have to determine a price before April.
During the third round of negotiations, the parties will voice their views on the
iron ore price trend as well as the supply and demand relation. Chinese steelmakers are expected to agree on a moderate increase on ore prices, following the sharp 71.5 percent increase of last year.