Baosteel names new iron ore negotiator

Steel firms want fresh start after failure to agree prices last year

SHANGHAI: Baosteel Group Corp, China's biggest steelmaker, named Wang Liqun as its new chief negotiator for iron ore contract talks, an executive said, amid forecasts that prices may surge as much as 50 percent.

Wang, general manager of the raw material purchasing center at Baosteel's Baoshan Iron & Steel Co, will replace Ding Shouhu, said the executive who declined to be identified because of company policy. Ding, a manager at the center, was the chief negotiator for the Shanghai-based steelmaker for the past two years.