Business Services Industry
China backs down on ore price fight.
Australasian Business Intelligence, April, 2006
Byline: Barry FitzGerald
Apr 10, 2006 (The Age - ABIX via COMTEX) -- There is growing speculation that iron ore producers will gain at least a 10 per cent price increase in 2006. Although Companhia Vale Do Rio Doce (CVRD) would reportedly prefer a 24 per cent rise, the European steel mills have been anticipating a 12-15 per cent increase. Meanwhile, despite Japanese interests previously controlling the iron ore price negotiations, China's steel industry has become the driving force of price negotiations in 2006. Australia's $A18 billion iron ore export industry - led by BHP Billiton and Rio Tinto - is also expected to raise iron ore shipments 10 per cent.
Publication Date: 11 April 2006
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