POSCO, NIPPON STEEL TO TEAM UP IN IRON ORE TALKS

摘要

South Korea's POSCO said on Dec 11 it will work together with Japan' s Nippon Steel Corp in negotiating iron ore prices in order to strengthen the steel makers' buying power. The tie-up between the world's number two and number three steel producers comes before talks this month with iron ore producers, who are seeking another big price increase in 2007. Iron ore producers secured a 19 percent increase in 2006 and a 71.5 percent leap in2005 because of strong demand from China. Chinese mills account for nearly half of the global steel output.