USEUROPEAFRICAASIA 中文双语Français
Home / Mosaic

Wuhan Iron, CVG ink iron ore deal

By Xiao Wan | China Daily | Updated: 2009-11-17 07:59

China's third largest steelmaker, Wuhan Iron & Steel Group, yesterday said it had signed a long-term iron ore supply contract with Venezuela's Corporacion Venezolana de Guayana (CVG), in a move to help the company diversify its raw material sources.

Wuhan Iron will buy the iron ore using a different pricing mechanism from benchmark prices set annually by the world's top three suppliers, the Wuhan, Hubei-based company said in a statement on its website yesterday.

"This is the first contract to be implemented using the separate pricing mechanism, signaling that Chinese iron ore purchase prices will not be restricted by the three top iron ore producers," said the statement, without elaborating on what the rates would be.

Wuhan Iron, CVG ink iron ore deal

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US