ASSESSMENTS

China: Lessons Not Learned in Iron-Ore Talks

Dec 24, 2009 | 14:24 GMT

Christian Sprogoe/AFP/Getty Images

Summary

Annual negotiations for iron-ore prices are under way, and China is attempting yet again to use its high demand for the metallic element as a lever in bargaining with major producers. Last year's negotiations, in the trough of the global recession, were highly contentious, and China’s hard bargaining did not pay off. Now China is trying to conclude the negotiations early — but with tactics that suggest it has not learned any lessons.

Beijing has not come to terms with the Chinese steel industry’s growing dependence on outside sources of raw material. ...

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