ironoremineLargest steel producer in the world, China is looking for iron ore mining companies that want to give a discount of iron ore by 40%. This year China has refused to cut iron ore prices 33 per cent, as has been given iron ore mining companies to the Japanese and Korean.

China hopes to have bargaining power with iron ore mining companies to obtain discounted price of iron ore, 40 per cent. Another factor expected the power to negotiate iron ore prices is the investment made by the state on the iron ore mines and coal abroad.

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