BEIJING (XFN-ASIA) - Anglo-Australian miner BHP Billiton and Baosteel,
repesenting Chinese steelmakers, said they have agreed on iron ore contract
prices for the year to March 2009.
The contract is virtually identical to the one that Rio Tinto, one of BHP
Billiton's main rivals for ore sales to China, reached with mainland steelmakers
last month.
Under the latest contract, for the year that began on April 1, prices of
Newman Fine Ore and Yandi Fine Ore rise by 79.88 pct from the previous year,
while the price of Newman Lump Ore rises by 96.5 pct.
The new reference prices per dry metric ton Fe unit for 2008 are 1.4466 usd
for Newman Fine Ore and Yandi Fine Ore and 2.0169 usd for Newman Lump Ore.
andrew.pasek-vanburen@xinhuafinance.com
kelly.zang@xfn.com
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