China steel group warns Vale on ore price demand

摘要

China's steel industry, the world's largest, will inevitably stop using iron ore from Brazilian miner Vale if it insists on a price rise, an executive at the China Iron and Steel Association said. China would encourage domestic iron ore miners to increase production and would decrease overall ore demand at steel mills, including through a reduction in steel product exports, said Luo Bingsheng, the association's vice chairman.