China exec probed for leaking price strategy to Rio: source

BEIJING (Reuters) - A Chinese steel executive detained along with four Rio Tinto employees is under investigation for having leaked China's "bottom line" in iron ore price negotiations, a source with knowledge of the probe said.

Tan Yixin, the head of iron ore imports for state-owned steelmaker Shougang, has been taken into custody to be questioned for "revealing China's negotiating strategy," the source told Reuters, requesting anonymity.

Asked if negotiating strategy meant iron ore prices, the source said: "Yes, China's bottom line."

Shougang officials could not immediately be reached for comment.

(Reporting by Lucy Hornby, Benjamin Kang Lim and Tom Miles)