Companies

Baosteel importing iron ore on temporary price basis

(Agencies)
Updated: 2010-05-05 15:35

Baoshan Iron & Steel Co, China's largest listed steelmaker, is importing iron ore from top global miners on a temporary price basis, Ma Guoqiang, the listed unit's general manager, said on Wednesday.

Related readings:  Baosteel Q1 net profits surge to 3.93b yuan  Term pricing system for iron ore not feasible, says Baosteel  Baosteel to raise steel prices by up to $103 per ton  China's novel approach to iron ore negotiations

He said the company was studying how to deal with the adverse impact of iron ore price changes while negotiations with the three main global producers continued.

But Ma added on a conference call that the worst was over for China's steel sector.

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