Baosteel uses temporary pricing to import ore

Big steelmaker studying impact of different costing mechanisms

Beijing - Baosteel, China's largest steelmaker, also the chief negotiator of the country's iron ore talks, is importing iron ore from top global miners on a temporary price basis.

"Now the 2010 iron ore price talks are still going on, and steel mills around the world are importing iron ore at temporary prices," said Ma Guoqiang, general manager of Baoshan Iron & Steel, the listed unit of Baosteel, during an online earnings briefing on Wednesday.