China cites common interest with Japan in iron ore talks
China, Japan and other steel producing nations have “common interests” in negotiating iron ore contract prices, said Luo Bingsheng, executive vice chairman of China Iron and Steel Association.
“We’re in this together, China and Japan,” he said on the sidelines of a conference in this northeastern Chinese city.
Luo said that “the two countries both have common interests in the negotiations” with the three major ore suppliers, the Anglo-Australian groups BHP Billiton and Rio Tinto and Brazil’s CVRD.
Luo expressed hope that miners and steelmakers could work together for mutual benefit.
He said China is increasingly relying on domestic iron ore supplies while gradually decreasing steel production capacity.
Tags: iron-ore, steel