Good read below, Sinosteel, Chinalco and Baosteel, these are big ticket Co's coming to the party.
BEIJING, May 22 (Reuters) - Sinosteel Group, China's largest ferrous metals trader, does not rule out taking a stake in Australian iron ore miner Fortescue Metals Group Ltd (FMG.AX: Quote, Profile, Research), Sinosteel President Huang Tianwen said on Thursday.
Australian media have reported that Chinese state-owned metals firms, including Sinosteel, Chinalco and Baosteel, want to buy a stake in Fortescue, as Beijing seeks to wield more control over raw material supplies from the Australian outback.
China, the world's largest steel producing country, is especially seeking stakes in iron ore start-ups to break its dependence on ore from heavyweights Rio Tinto Ltd and BHP Billiton Ltd/Plc
lock in the shorts time, page-52
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