Steel prices to meet new ore cost
By Jin Jing | China Daily | Updated: 2008-06-25 07:50
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A steel worker at a foundry in Handan Steel Plant in Hebei province. Bloomberg News |
SHANGHAI: Chinese steelmakers' decision to pay up to 96.5 percent more for iron ore from Australian miners is expected to further squeeze their earnings. But the rise of steel product prices this year can offset the rising production cost from surging iron ore prices, analysts said.
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