A Chinese industrial group has urged domestic steel companies to stop buying iron ore from the world's top three miners in protest of an alleged price monopoly, state media said Monday.
The China Iron and Steel Association has asked domestic steel firms and traders not to import iron ore from Australia's Rio Tinto and BHP Billiton and Brazil's Vale for two months, the China Net, a government news website said.
China has 75 million tons of iron ore reserves and production of the resource by Chinese mines was up by 18 percent year-on-year during the first two months of 2010, the report said.
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