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China's steel group says iron ore price talks halted-report

China's steel group says iron ore price talks halted-report
Aug 7, 2009 9:34:19 AM
China's steel group says iron ore price talks halted-report
BEIJING, Aug 4 (Reuters) - The China Iron and Steel Association has suspended benchmark price negotiations with global miners because the spot market price has been "seriously distorted", the China News Service said on Tuesday.

It said speculative behaviour in the spot market had led to high price rises, forcing it to suspend the negotiations with Australia's Rio Tinto and BHP Billiton.

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