New monopoly rules 'will not impact ore'

China's newly unveiled draft regulations aimed at ending monopolistic price-fixing may not apply to ongoing negotiations between foreign iron ore producers and Chinese companies, an insider said yesterday.

The draft rules, issued by the National Development and Reform Commission (NDRC), are aimed at preventing collusion among retailers and both domestic and international industry associations.

The provisional document calls for an end to "monopolistic price agreements" that come about when "operators in a competitive relationship" fix or alter prices, restrict the extent of price shifts or "use a uniform price as the basis for negotiations with a third party".