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Vale Pushes China for Higher Steel Prices

Posted on September 05, 2008

Remember back last winter, when the BHP Billiton (BHP) bid to takeover Rio Tinto (RTP) was sending China's steelmakers into a tizzy?They were terrified that the union of BHP, the third largest iron ore producer globally, and Rio Tinto, the second, would create a de facto monopoly on their industry's most vital raw ingredient. Well, it looks like Chinese steel producers won't have to wait for that most disadvantageous of unions (for them at least) to watch iron ore prices go through the roof....

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china , chinese