Their reasoning is obvious: spot prices are sky-high and the process of annual negotiations is a shambles.

他们的逻辑很明显：现货价格高企，而每次年度谈判都搞得乱 七八糟。

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Negotiations over annual iron ore contact prices have stalled between China and its suppliers in Australia and Brazil.

中国与澳大利亚和巴西供应商之间的年度铁矿石合约价格谈判已陷入僵局。

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The deal by Vale of Brazil and Anglo-Australian BHP Billiton with Japanese and Chinese mills marks the end of the 40-year-old benchmark system of annual contracts and lengthy price negotiations.

巴西淡水河谷(Vale)和英澳矿商必和必拓(BHP Billiton)与日本和中国钢厂签署的协议，标志着已有40年历史的年度价格基准体系和漫长价格谈判的结束。

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This has put the Chinese producers at a disadvantage at a time when they felt their heft should give them a preferred rate in the annual negotiations.

ECONOMIST: Rio Tinto and China

Protesters fear the annual negotiations between the EC and the member states could lead to serious cuts in the fishing fleet, if plans to cut quotas to protect stocks go ahead.

BBC: NEWS | UK | Blockade on port of Calais lifted

"If it comes to a vote, the House of Commons will face a choice - a deal or no deal, " he said - adding that the alternative to ratifying a multi-year deal would be a series of annual negotiations.

BBC: George Osborne says 'real test' on EU budget to come