Baosteel, Kumba agree on price hike
China's largest steelmaker Shanghai based
Baosteel Group Corp announced that the company agreed on a 71.5%
iron ore price hike with South African Kumba Resources Ltd, the world's fifth largest
iron ore supplier.
The agreement comes after
Baosteel's agreements with Brazilian Companhia de
Vale do Rio Doce (CVRD) and Australian
BHP Billiton Ltd earlier this year.