DJ China's PM: Iron Ore Prices To Be Set By Market
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[April 02, 2006]

DJ China's PM: Iron Ore Prices To Be Set By Market

(Comtex Finance Via Thomson Dialog NewsEdge)CANBERRA, Apr 02, 2006 (Dow Jones Commodities News Select via Comtex) --Chinese Premier Wen Jiabao said Monday iron ore prices should be set by the market.

"I believe this is a matter to be decided by the market," Wen told a media briefing in Canberra after signing a nuclear energy pact with Australian Prime Minister John Howard.

Wen said iron ore prices would be set according to commercial negotiations between buyers and sellers.

Governments had the responsibility to establish a pricing mechanism "in accordance with international practices," he said.

(MORE TO FOLLOW) Dow Jones Newswires

04-02-06 2146ET

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