Steel prices set to rise as iron ore talks begin
By Zhang Qi | China Daily | Updated: 2010-02-10 08:03
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Surplus iron ore imports to China cause pressure at seaports, as well as high inventories for steel mills, propping up spot iron ore prices. Chen Weifeng |
Rising imported iron ore prices are set to drive up domestic ore prices and force Chinese steel companies to raise the cost of products to counteract possible heavier manufacturing expenses in 2010, a senior official from China's steel association said yesterday.
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