China’s major steel mills have not agreed to an interim iron ore price deal with BHP Billiton, state media said, denying earlier reports of such an agreement. According to a source from a major state-owned steel mill, no price has been agreed between Chinese mills and any of the big three iron ore suppliers – BHP, Rio Tinto and Vale. "We agreed to consolidate our efforts in this year’s price negotiations during an internal meeting of the China Iron and Steel Association in early February," the source said. "No one would be so foolish as to arrive at any interim deal with talks still ongoing." Baosteel Group will this year lead benchmark price negotiations after the China Iron and Steel Association failed to reach an agreement on last year’s prices.
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