Under the traditional system, the major iron ore producers like Rio and BHP sit down with steelmakers to fix a year-long price for the metal essential to steel production.

• 根据传统定价体制，力拓和必和必拓等主要铁矿石生产商会坐下来与钢铁生产商议定一个全年价格。铁矿石是钢铁生产的关键原料。