<span class="wntoptext031"><span>Reportedly, the Brazilian mining giant Vale is expected to increase iron ore contract price to China for 2011 Q1 by 8.8% to US$ 149.20/ton. </span></span><span><br> <span class="wntoptext031"><span>Market analyst said that the iron ore price rise will hurt the profits of China’s steelmakers in next quarter, if they fail to transfer the increased raw material costs to the customers.</span></span><br> <span class="wntoptext031"><span>Besides, the demand may remain slow in 2011 Q1, since the first quarter is the typical off-season in China’s market.</span></span><br> Source: <a href="http://www.yieh.com/"><span><u><font size="3" face="Times New Roman">www.yieh.com</font></u></span></a> </span>