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China: Steel mills face huge pressure.
Section: Business News - Rising prices of imported iron ore as well as other higher costs could put "huge pressure" on domestic steel makers and lead to higher steel prices this year, said China's steel industry association.
The domestic industry, already plagued by oversupply and weak prices, is also set to suffer from costlier coal, coking, electricity, water and transport charges in 2010, the China Iron and Steel Association, which represents major mills, said in a regular review released yesterday.
"In the next stage the import prices for iron ore may rise, which will put upward pressure on domestic ore prices," CISA said.
It also forecasts a change in …
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