¡¡¡¡Global miner Rio Tinto has ceased iron ore price talks with Chinese customers, the firm said on Sep 4, but it denied a media report the talks had ended because of the detention of its negotiators.
¡¡¡¡A Rio Tinto spokesman later confirmed that the company was no longer in talks with Chinese steel mills, though he denied this was because of China's move in July to detain four Rio Tinto staff.
¡¡¡¡The China Iron and Steel Association has been refusing to accept a 33% price cut, which was a benchmark level agreed by Japanese and South Korean steel mills in May.

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¡¡¡¡According to the data of SSY research department of London shipbrokers company, at the beginning of September, only 30 capesize vessels waited outside of Tianjin port for cargo discharge, and it is only 1/3 of that in the peak period this June, which shows that the peak period for raw material demand is over in China this year.

¡¡¡¡Sep 4, according to the domestic website, the stock of iron ore imported by the main ports in China of the week has reached 73.04 million tons, an increase of 890,000 tons compared to last week. Among them, the stock of iron ore from Brazil and Australia increased 270,000 tons and 450,000 tons respectively, and the total stock volume has rose up for nine weeks continuously.