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Steelmakers can't bear 90% iron price hike: report

(Agencies)
Updated: 2010-03-19 14:57
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Chinese steelmakers can "hardly bear" a 90 percent increase in the price of iron ore, National Business Daily reported, citing Ministry of Industry and Information Technology spokesman Zhu Hongren.

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Crude steel output will likely rise by 10 percent this year, the newspaper said, citing a report by the ministry.