Baosteel: Iron Ore a Buyer's Market

(Beijing) – The global iron ore supply is expected to increase over the next two years and the balance will shift in favor of buyers, said Ma Guoqiang, the general manager of Baoshan Iron & Steel (SHE: 600019).

Baoshan Iron & Steel, a listed unit of China's leading steel maker Baosteel Group, is currently in negotiations with Vale SA over fourth quarter iron ore prices, which are expected to fall, said Ma at an online conference on October 31.