Finally, the iron ore price negotiations between China Iron and Steel Association (CISA) and Anglo- Australian Fortescue Metals Group Ltd. (FMG) has been settled.
Both sides agreed in a contract on a 35.02-percent price cut on fine iron ores and a 50.42-percent cut in the price of iron ore lumps.
This price is lower than those which Asian steelmakers settled with BHP Billiton, Rio Tinto and Vale earlier.
Source: Yieh.com