Chinese steel producer Shanghai
Baosteel Group Corp announced that it concluded
iron ore price negotiations with both Brazilian Companhia
Vale de Rio Doce (CVRD) and
Australia-based Hamersley.
According to the agreements, prices of Hamersley's lump, fine and Yandi
iron ore as well as prices of CVRD's Carajas and Southern System fines will all increase by 71.5% over 2004 prices.