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BEIJING, Aug 13 (Reuters) - China, the world's largest iron ore consumer, should have more influence in shaping global iron ore trade, Li Yizhong, Minister of Industry and Information Technology, said on Thursday.
Li called for more domestic support for the China Iron and Steel Association (CISA) that is leading price negotiations with global miners, and he urged an end to in-fighting between companies that has helped push up spot prices to above $100 per tonne.
"As the world's largest iron ore importer...China should have some say in iron ore trade. But I think we don't have enough influence now," Li told reporters.
Li's remarks came as China remains deadlocked in price
negotiations with foreign ore suppliers including Australia's
Rio
"We hope global miners will look at long-term interests and long-term cooperations with the Chinese steel sector," Li said.
Current spot iron ore prices have risen sharply, and China hopes to see what it considers an appropriate relationship between spot and term iron ore prices, he said.
As China furthers restructuring and consolidation and with its steel sector facing severe over-capacity, China's demand for ore should pull back from the rapid expansion seen in recent years, Li said.
(Reporting by Chen Aizhu, Sally Huang and Beijing newsroom; Editing by Ken Wills)