NDRC official: Beijing may play part in ore negotiations

NDRC official: Beijing may play part in ore negotiations

An official with China’s National Development and Reform Commission (NDRC) suggested that the government might become involved in the iron ore price negotiations. On Thursday, November 17, Liu Tienan, head of the NDRC’s Industry Department, met with BHP Billiton China President Clinton Dines and Nathan Backhouse from the Australian Embassy. During the meeting, both parties exchanged views on the iron ore supply and demand situation and the price trend of imported iron ore in 2006. Liu Tienan emphasized that Beijing places great importance on the upcoming price negotiations, especially given the circumstances that iron ore producers want to increase the prices when China’s iron and steel industry made great losses. SteelOrbis Shanghai