DALIAN STEEL & RAW MATERIALS CONFERENCE/Chinese steel mills oppose cfr benchmark prices for iron ore

摘要

Chinese steel mills will not agree to cfr settlements in benchmark iron ore price negotiations, according to officials from China Iron & Steel Assn (Cisa) and the National Development and Reform Commission (NDRC), as the landed price in China becomes an issue again. "We will make efforts to reduce the proportion of spot trading in the iron ore import market by building up more long-term supply relationships and we are against settling the iron ore benchmark prices in cfr rather than the usual fob format," Cisa's secretary-general Luo Bingsheng said at the 7th China International Steel & Raw Materials Conference in Dalian, in northeastern China's Liaoning province.