Price settlement between Hamersley Iron and Baosteel
Hamersley Iron, 100% of which is possessed by Anglo-Australian
Rio Tinto, is reported to have reached an agreement with Shanghai
Baosteel Group Corp on price hikes. The new prices for Hamersley Iron shipments will be in effect as of April 1, 2004.
With the increase of 18.62%; lump ore, fine ore and Yandi ore prices will be $45.93, $35.99 and $33.83 per dry metric ton unit, respectively.
As previously reported by SteelOrbis, Hamersley Iron agreed upon the same price increases with Nippon Steel.