SYDNEY, May 28 (Reuters) - Chinese metals trader Sinosteel said on Wednesday it will not increase its offer for Australian iron ore prospector Midwest Corp MIS.AX beyond A$6.38 a share.
Midwest has received a competing A$1.65 billion ($1.6 billion) all-share offer from fellow Australian prospector Murchison Metals Ltd (MMX.AX), which it has recommended. ($1=A$1.04) (Reporting by Jonathan Standing)
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