World iron ore price - 2009 reduction

Well, it looks like the Chinese will be pushing for a 2009 iron ore price settlement near to a 40% price reduction. That is a little more of a price fall than we discussed in a previous blog, but arguably the recession has set in harder and longer now.

For the latest discussions about China's stance on iron ore prices, see http://en.ce.cn/Industries/Basic-industries/200903/09/t20090309_18436351.shtml.

blogger@steelonthenet.com