Australia called on China to not intervene in iron ore market(4/13/2010)

Australia's ABC News reported on its Web site, the Australian Trade Minister Ximengkelin (Simon Crean) said the Chinese government should not interfere in iron ore market.

ABC News quoted Franklin as saying the decision should be the market price, and not limit the market supply of instructions issued.

Franklin also said a boycott is unlikely to achieve, because the rapid industrialization of China are iron ore demand is very high.

Earlier reports said the China Iron and Steel Association has asked domestic steel companies and traders within the next two months are not from Australia, Rio Tinto Ltd, BHP Billiton, and CVRD's iron ore imports.

Gradually from the occasion of the above arguments, the market now widely expected, this year's iron ore price negotiations may end with prices 80% to 100% "ending", the three major steel companies will be forced to accept the proposed new mining business the pricing mechanism - - "quarterly pricing," has been running for over 40 years to replace the annual benchmark pricing system.(by China Leiyuan, 4/13/2010)