Steel makers striving for unified price

China's steel industry association said on Friday that it plans this year to unify the spot and long-contract prices for the country's iron ore imports.

It will also set a ceiling for charges levied by import trading firms, as part of an effort to regulate the market.

The proposal was the top item of discussion at the steel industry body's two-day semiannual meeting, said Luo Bingsheng, deputy chairman of the China Iron and Steel Association (CISA), at a press conference.