Stimulus unlikely to impact iron ore talks

SHANGHAI: China's chances of gaining greater influence at the upcoming iron ore price negotiations are slim, despite the increased demand expected to result from the nation's 4-trillion yuan economic stimulus package, experts said.

Rio Tinto, the world's second-largest iron ore producer, said on Oct 10 it would cut its output by 10 percent due to shrinking demand from China, the world's largest iron ore consumer.

Zhou Xizeng, an analyst with Citic Securities, said: "There are more than 700 million tons of iron ore stranded at ports nationwide, but monthly consumption is only 200 million tons.".