Rio Tinto: Fortescue deal no impact on price talks

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Rio Tinto says the new price deal struck between the China Iron and Steel Association and Fortescue Metals will have little effect on its own negotiations with China.

Meanwhile, Chinese industry insiders say they're hoping for the Big Three -- Vale, Rio Tinto and BHP Billiton, to reach a single price for Chinese steel makers, to bring an end to stockpiling and speculation.