Iron ore miners near deal with China
China's steelmakers are likely to reach a deal with Australian iron ore miners this month in price talks long deadlocked over the miners' demand for a freight premium, a senior Chinese steel official says. Zhang Xiaogang, chairman of the China Iron and Steel Association, also indicated a softer stance toward the miners' demand for the freight-linked sweetener, as the world's largest steel industry faces a June 30 deadline when the Australians will become free to sell more ore into the pricier spot market.