Oct 12, 2009 04:46 PM

China Might Cut Number of Licensed Iron Ore Importers

By staff reporters Zhang Boling and Zhang Yajun

(.com.cn) China is considering cutting the number of licensed iron ore importers, minister of industry and information technology Li Yizhong told on the sidelines of the World Steel Conference here on Oct. 12.

The ministry is in talks on the issue with the Ministry of Commerce, he said.

Imports of iron ore have surged this year, hurting domestic steel mills' efforts to negotiate a contract price reduction larger than the 33 percent offered by BHP Billiton and Rio Tinto.

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