Baosteel importing iron ore on temporary price basis

Baoshan Iron & Steel Co, China's largest listed steelmaker, is importing iron ore from top global miners on a temporary price basis, Ma Guoqiang, the listed unit's general manager, said on Wednesday.

He said the company was studying how to deal with the adverse impact of iron ore price changes while negotiations with the three main global producers continued.

But Ma added on a conference call that the worst was over for China's steel sector.

(Source: China Daily)