Iron Ore Price Negotiations with China Far from Over  Today Mr. Zhang Xiaogang, Chairman of Anshan Iron & Steel Group said Chinese steel makers want CVRD (RIO), BHP Billiton Ltd. (BHP) and Rio Tinto Group (RTP) to cut prices of iron ore by between 40 percent and 50 percent this year.It was announced before that prices for CVRD would be around 10% higher than those of BHP and Rio Tinto, since price adjustment for 2008 for CVRD was around 10% lower. That would mean that iron ore prices for CVRD would be somewhere between 40% and 30% lower than in 2008.That would be the first iron ore price cut in 7 years as the global recession has been reducing demand of the product worldwide. The iron ore producers have offered to sell the material at spot prices, which are lower ...

pJan 6, 2009 (WALL STREET JOURNAL) -- In an early sign that some steel prices may have bottomed out, steelmakers in the U.S., China and some other countries are attempting limited price increases and reopening a handful of mills that were closed because of weak demand a few months ago./ppnbsp;/ppIt isn't clear whether the price increases will stick, however. Steel sellers often announce price increases or special surcharges, only to relent in the face of customer opposition or if rivals don't follow suit. Nor is it clear whether the price increases reflect more demand or lower inventories.br /nbsp;/ppTroubled auto makers, contractors, appliance and equipment makers have cut back on their steel purchases. The majority of mills closed over the last few months remain shuttered and many around the world are operating below 50% of their capacity./ppnbsp;/ppBut steelmakers signaled cautious optimism that there is enough demand to support price increases in ...