Luo Bingsheng, of CISA, on steel business issues:

 Luo Bingsheng, deputy chairman of CISA, on Chinese steel producers negotiating iron ore prices:
"Consider the realities of the steel business issues. Based on its producing needs, Chinese steel producers can negotiate with three mining companies (Rio Tinto, BHP Billiton, Vale) for their own import iron ore prices, but the price will be just a temporary price."