Word: shanghua
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Dates: during 2009-2009
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...virtually every metal was voracious, they got stuck with stiff price increases. The deal could give Chinalco, which already owns 9.3% of Rio, better access to the company's choicest deposits of copper, iron ore and bauxite. The secretary-general of China's Iron and Steel Association, Shan Shanghua, has already hinted that Chinese buyers could have some additional clout. This rankles some of Rio's major shareholders. "It's up to Rio to convince us that this does not transfer key pricing power over a key commodity to a big customer," says a large institutional shareholder. Chinalco has tried...
...every metal was voracious, they got stuck with stiff price increases. But the deal could give Chinalco, which already owns 9.3% of Rio, additional stakes in the mining company's choicest deposits of copper, iron ore and bauxite. The secretary general of China's Iron and Steel Association, Shan Shanghua, has already hinted that Chinese buyers could have some additional clout at the bargaining table...
...huge consumer of iron ore, the deal provides potential pricing power over Rio, one of the world's three largest ore producers. Every year, steel and aluminum producers worldwide negotiate with miners over new contracts. For the past few years the mining companies have driven up prices relentlessly. Shan Shanghua, executive secretary of China's Iron and Steel Association, recently hinted that Chinese buyers will have some additional clout at the bargaining table...
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