gate sales with rio would be ideal

Small Chinese steel-makers will accept a 95 per cent rise in annual iron ore prices by Rio Tinto, but heavyweights such as Baosteel are expected to hold out for a more favourable price, say industry sources reported by Reuters. A source at a conference in Singapore said the smaller mills had no choice, but Baosteel was under pressure from the Chinese Government to dig in.

http://in.reuters.com/article/domesticNews/idINSP12827020080610