Chinese steel makers have begun to take actions to prepare for upcoming international iron ore price negotiations.

On August 15, sponsored by China Iron and Steel Association (CISA) and led by Luo Bingsheng, CISA's vice-chairman, senior managers from China's seven big steel companies visited CVRD, Brazil's biggest iron ore producer and exporter. During the visit, the Chinese managers and CVRD discussed iron ore production, transportation and supplies. They also plan to visit Australia and other major iron ore exporting countries. Their world tour will last for about half a month.

A Chinese steel industry insider revealed that the main purpose of the managers' visit is to get a grasp of global situations concerning major iron ore exporters in order to prepare for future price negotiations.

In addition, China will hold two high-end forums of international iron ore market within the next two months.

For more details, please read the full story in Chinese (http://www.cnstock.com/jryw/2007-08/22/content_2455919.htm).

(China.org.cn August 22, 2007)