Stimulated by the price hike of domestic iron ore, the price of imported ore showed a sign of rebounding this week and some trade enterprises started to raise the bidding price, according to a report of Umetal.com.

   Last week, China Iron and Steel Association (CISA) made a statement, criticizing Rio Tinto for its reducing long-term contract supply on one hand and adding ore supply on the spot market on the other hand, and calling for Chinese enterprises to boycott its supply on the spot market. But the Australian company waged a tit-for-tat struggle against it to stir up trouble in the spot marine market, causing the shipping fee via Brazilian route to top 100 US dollars/ton. The contradiction in the negotiation between China and the Australian company is further intensified, and the negotiation is predicted to be hard to produce a result before the end of June.