Baosteel expects iron ore prices to be impacted by Japanese earthquake

Chinese steelmaker Baosteel stated that the Japanese earthquake has not had a major negative impact on China's steel industry. The volume of finished steel trading between China and Japan is not large, and therefore the lack of Japanese steel production is expected to have limited influence. On the other hand, Basosteel general manager Ma Guoqiang, said obviously an impact of what happened in Japan is to expected particularly on the international iron ore prices.