摘要
A global iron ore oversupply, lower spot prices, and huge stockpiles in China＇s domestic iron ore market will improve the odds of Chinese steel mills in securing more cuts in its iron ore price negotiation with overseas suppliers, Du Wei, an Umetal analyst told Xinhua on June 4, China Iron and Steel Association （CISA） refused on May31 to accept the iron ore price cut between 33 percent and 44 percent reached between Rio Tinto and Japan＇s Nippon Steel Corp, and insisted on a price cut of more than 40 percent in the annual contracts of iron ore.
