To offset the impact of the slumping steel market and reduce production costs, Taiwan’s China Steel Corp. (CSC) has joined hand in hand with mainland China’s BaoSteel Corp. to ask the world’s largest mining firms, including Vale do Rio Doce, BHP Billiton and Rio Tinto, to cut contract prices by 23% to US$140 from US$170 per metric ton. (…)
via CSC,BaoSteel jointly Ask Mining Firms to Slash Contract Prices by 23%.