China Iron & Steel Association admits defeat in benchmark row

Apr 28, 2010 | 10:16 AM |

The death of annual iron ore pricing has effectively been declared by the China Iron & Steel Association (Cisa), with a senior official telling of the agency saying at a press conference that this year's negotiations had stalled and Chinese steel mills were free to pursue their own deals.

"Individual steelmakers can approach the global miners for supply in line with Cisa rules," Luo Bingsheng, Cisa's vice chairman, said in Beijing, softening the association's hardline stance on go-it-alone contracts.....

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