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PrintThe proposed $170bn merger between miners BHP Billiton and Rio Tinto would be "terrible" for global competition and should be rejected by anti-trust regulators, according to Zhang Xiaogang, president of the CISA.
The prospect of a merger between two of the world's biggest three suppliers of iron ore has been resisted by many steel companies. This is because of the extra power a BHP/Rio union would have for forcing through price increases for ingredient in steel making.
Last week the Australian anti-trust regulator approved the merger of the two Anglo-American rivals, leaving the European Union's competition authority as the final regulator to decide on the deal. It has until January to do so.
China lacks its own supply of good-quality ore and so its steelmakers rely heavily on BHP, Rio and Vale of Brazil, the third big iron ore miner.
Iron ore prices have risen steeply in recent years, adding to the cost pressures for the steel industry.
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