China to announce iron ore price on Friday or next Monday

BEIJING (Asian Metal) 31 May 06 – Chinese steel mills plan to announce the acceptance of price rise of 19% in next four or five days, such as this Friday or next Monday, if BaoSteel cannot gain a different price with CVRD, industry sources said.

According to the source, The sixteen Chinese steel mills did not reach a conclusion during the meeting in Beijing yesterday, but BaoSteel still tries its best to get a different price rise, 0.5-1% lower than the settlement between CVRD and other large steel mils in the world, but CVRD holds a tough attitude and refuse to give “face” to Chinese steel mills.Asian Metal CopyrightAccording to the source, The sixteen Chinese steel mills did not reach a conclusion during the meeting in Beijing yesterday, but BaoSteel still tries its best to get a different price rise, 0.Asian Metal Copyright

Chinese steel mills are all waiting for the final announcement, which would be announced by CISA (China Iron and Steel Association) in the coming four or five days.