The CISA announced a statement on May 21 to deny media reports that the Chinese steelmakers have agreed on a 30 to 35 percent cut in 2009 iron ore prices and criticize relevant medias for their groundless, irresponsible and unethical reports. The statement said steelmakers in China, Japan and South Korea are in the middle of the 09 iron ore price negotiations in earnest with foreign major suppliers amid the global financial crisis. Authentic and reliable results could only be attained through parties involved in the talks.