CISA said China's attitude has been clearly announced by the end of May

China News agency, Beijing, May 29 (Xinhua Nanyulin) After Japan's iron and steel enterprises and one of the world's three largest miners, Australia, Rio Tinto 26th to determine the global iron ore price agreement for the 2009 fiscal year, the South Korean comprehensive iron-making company announced on 28th to follow up.　　China's iron and steel industry Association executives said today that China's attitude has been clear and will be announced in the recent days.　　Rio Tinto, one of the world's Big Three miners, 26th announced a new long-term agreement with Nippon Steel Company to iron ore contract prices, the powder mine on the basis of the 2008 price reduction of 32.95%, block ore price 44.46%. As the fourth-largest producer of steel in the world, POSCO, the South Korean comprehensive iron-making company, has asked suppliers to cut iron ore prices by 50%.　　The South Korean comprehensive Iron Company said in Thursday it had reached an agreement with Rio Tinto to cut the annual contract price for iron ore, which began in April, by 33% per 44%.　　China Iron and Steel Industry association responsible Person said on the phone today, the Chinese Iron and Steel Industry Association and other relevant people have a clear attitude to the matter, and will be announced at the end of May, but at this moment is not convenient to disclose clear details. The bottom line for China's negotiations was that prices would fall 40% to 45%, back to the 2007 price level, as CISA made clear. Several Chinese steelmakers have said publicly that it is hard to accept a 33% per cent drop and expect further price cuts.　　There is widespread speculation that China may not accept the price drop and continue negotiations. Brazil's Vale, the world's largest mining giant, has not yet issued a statement of acceptance. Finish)