China called for establishing long-term iron ore supply contracts with India. China Iron and Steel Association Vice-President Luo Binsheng, told the India-China Ferrous Minerals Summit in Beijing that he hoped the two countries would establish supply relationships as the mainland had done with Brazil and Australia, instead of continuing with spot purchases and short-term contracts. Luo blamed the current situation on a mutual lack of knowledge and said China sought to buy more ore from India in the future. Federation of Indian Mineral Industries President H. Abdul Wahab said India was reday to supply the ore, calling a long-term partnership will be a win-win deal for both countries.
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