BHP Billiton and Baosteel settle on price hikes
Australian steel producer
BHP Billiton has recently announced that it has compromised with Shanghai
Baosteel Group Corp on price increases of lump and fine ores, to be in effect as of April 1, 2004.
Accordingly, with an increase of 18.62%, the new price of Mt Newman High Grade Lump will be $45.93 per dry metric ton unit and the new price of Mt Newman High Grade Fines will be $35.99 per dry metric ton unit.
As previously reported by SteelOrbis,
BHP Billiton had agreed with Nippon Steel upon the same price increases.