RIO TINTO SHOWS PATIENCE WITH PRICE TALKS WITH CHINA

AsiaInfo Services 03-14-2008 Rio Tinto Shows Patience with Price Talks with China BEIJING, Mar 14, 2008 (SinoCast via COMTEX) -- Chinese steel producers and the two Australian iron ore giants, BHP Billiton and Rio Tinto, seem not to break the stalemate in their price negotiation in a short time. Baosteel Group and other Asian steel makers, including those in Japan and South Korea, have completed the negotiation on 2008 iron ore supply price with Vale, the Brazilian iron ore giant.

They accepted a 65% rise in price of iron ore produced by Vale for 12 months starting from April 1, 2008. ...

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