It appears many of China's steel mills have already caved in on the 33% discount that Japan and Korea have already agreed to and are bypassing the government on this through advance payments. (We can assume the RIO detainees are the ones who negotiated the deel with the steel makers.) It appears, the steel mills don't want to be forced onto the spot market.
This deal basically means the mills agree to continue with the existing contract and receive a 33% discount for advanced payment (so costs same as Japan and Korea pay but have to pay upfront).
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It appears many of China's steel mills have already caved in on...
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