SOURCE: Industrial Info Resources

October 24, 2007 04:00 ET

China Moves to Trim Rising Transport Margins on Iron Ore, Steel, an Industrial Info News Alert

JOHANNESBURG, SOUTH AFRICA--(Marketwire - October 24, 2007) - Researched by Industrial Info Resources (Sugar Land, Texas) -- For some time, the China Iron & Steel Association (CISA) has been encouraging Chinese steel companies to use domestic shipping companies to transport imported iron ore to contain and reduce the cost attached to freight. A total of 70 manufacturers and nearly 50 dealers are involved in iron ore importation, but they have not had a cohesive position on ore pricing where high margins have resulted from the increases, which have ranged from 30% to 50% since the middle of this year.

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