# Iron ore prices



## Markcoinoz (24 June 2008)

Rio Tinto Nailed it...Now its BHP's turn......

Excellent for the near term producers.

For the full story follow the link.

http://www.abc.net.au/news/stories/2008/06/23/2283498.htm?section=justin


Rio Tinto plans huge iron ore price hike

Posted 6 minutes ago

Mining group Rio Tinto says it has agreed to a near doubling of the price of its iron ore sales to Chinese steel maker Baosteel.

Prices are to increase by 80-97 per cent depending on the category of iron ore, which is a vital raw material used to make steel.


Under this agreement, Rio will sell Pilbara Blend Fines/Yandicoogina Fines to Baosteel for 152.22 cents per dry metric tonne unit.

Pilbara Blend Lump will cost 212.23 cents per dry metric tonne unit.


Cheers markcoinoz


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