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DJ - CISA: Iron Ore Price Talks Are Going On Now

BEIJING (Dow Jones)--Iron ore bulk price talks for 2010 between Chinese steel mills and global miners Rio Tinto Ltd. (RIO.AU), BHP Billiton Ltd. (BHP) and Vale S.A. (VALE). are going on now, a senior official with the China Iron and Steel Association said Tuesday.

"China must push for a unified ore import price (this year)," said Luo Bingsheng, CISA's vice chairman, during the association's press briefing.

He also said China must attend to the issue of surplus ore imports as it would affect the negotiations, adding the country imports 62% of its ore needs, not 69% as media reports had suggested earlier.

Iron ore price talks are a commercial affair and have confidentiality rules, Luo added.

-By Chuin-Wei Yap; Dow Jones Newswires; (8610) 8400 7799; chuin-wei.yap@dowjones.com



(END) Dow Jones Newswires

February 08, 2010 21:38 ET (02:38 GMT) Copyright (c) 2010 Dow Jones & Company, Inc.