Baosteei's chief iron ore negotiator Liu Yongshun has left the company ahead of the next round of benchmark price talks that will get under way later this year. Liu, who has represented Chinese steelmakers in talks with iron ore suppliers for the past three years, told Hotline he has joined Hong Kong-based iron ore trading and investment firm Apac Resources. Liu declined to reveal why he had left Baosteel, and said he was unaware of who would replace him in the forthcoming price negotiations. Baosteel leads the Chinese negotiations on behalf of the country's 16 biggest mills. Industry officials in China played down the potential impact of Liu's departure, although an official from the China Iron & Steel Assn (Cisa) conceded that his experience would be missed.
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