China steelmakers working on lower ore price
BEIJING, July 4 (Reuters) - China's steel industry body is still looking for a lower iron ore price in negotiations with key suppliers, the president of Baosteel (600019.SS: Quote, Profile, Research) said on Saturday, adding that the nation's production was running high in July.
Xu Lejiang of Baosteel was tight-lipped with reporters about the tense negotiations over ore prices. But he said the China Iron and Steel Association was still working on a lower price for the nation's steelmakers.
Xu also said that China's steel production in July looked set to remain at the high levels it reached in June, and national production for all of 2009 could reach 500 million tonnes. (Reporting by Beijing Bureau; Editing by Alex Richardson)
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