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Rio Tinto subsidiary Iron Ore Co of Canada (IOC) announced yesterday that German steel producer ThyssenKrupp Stahl AG agreed to 2005 price hikes of 71.5% for concentrate supplies and 86.1% for pellet supplies. In line with these hikes, the price of concentrates will reach 66.71 cents per dry metric ton unit, while the price of pellets will go up 120.06 cents per dry metric ton unit. The price increases parallel those determined by other global iron ore suppliers.