Ore miner ends talks over price

One of the 'big three' iron ore producers has cut China's national ore negotiating body out of the equation, electing to deal directly with steel-makers that want to buy its products.

The move will heap more pressure on the China Iron and Steel Association (CISA), which had hoped to reach a deal in June.

Now, there is speculation that the overdue deal may not be reached at all this year.