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February 3, 2010

Steel shows limits to China's clout

HONG KONG (AP) — China is pressing to turn its status as the world's biggest steel producer into clout over global miners and cheaper iron ore prices. But its tactics failed in 2009 and there are few indications it will fare better this year.

In a sign of the limits of China's growing economic might, months of price talks last year broke off without the price cuts demanded by Beijing, and tensions were heightened by the arrest of four Rio Tinto employees on spying charges.


 
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