BHP Billiton continues iron ore price talks

BHP Billiton continues iron ore price talks

Australian BHP Billiton confirmed that it is still continuing iron ore price negotiations, even though its competitors completed talks last week. BHP Billiton officials said that the company has not yet concluded deals with their Japanese customers for new iron ore price contracts. As reported earlier by SteelOrbis, Brazilian CVRD and Anglo-Australian Rio Tinto finalized iron ore deals with Japan's Nippon Steel last week. The parties involved agreed upon a 71.5% price increase. The new prices will be in effect as of April 1, 2005.