Japan's fourth-largest steelmaker Kobe Steel Ltd. said on Friday it has made some progress in price negotiations with Australian and Brazilian
iron ore miners.
Kobe Steel indicated that Japanese steelmakers and
iron ore miners may agree on the 2006 prices before Chinese steel producers.
Kobe Steel President Yasuo Inubushi said “We are not taking into account of Chinese negotiations in our own discussions. Their hawkish stance is a help, but will not have a direct impact on us.”