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China steel company leadership prepared to have a meeting with the mining company’s largest iron ore supplier to determine the contract price of iron ore in 2010. Discussion planned in April 2010. However, from both sides – producers of iron ore and steel companies – have delivered their desire for change in contract iron ore prices.

Iron ore mining company wants iron ore prices rose 40%, while China’s steel companies do not want an increase in excess of 30%. China steel company wants iron ore price increases ranged from 20% to 30%.

Trade analysts mining of raw materials said, each party has the power to defend their desires. China’s steel producers see an increase in demand for iron ore by steel plant in China will open opportunities for other iron ore producers to supply iron ore in China. Events in 2009, China canceled the contract of iron ore with Rio Tinto to pay compensation $ 9 billion. China has conducted a search of preparation of iron ore supplier to China.

But BHP Billiton has a different belief, that this mining company will maintain sales prices of iron ore in the spot market, because the development of iron ore spot prices higher than the contract price of iron ore.

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