Quebec Cartier Mining Company (QCM) has announced that it has reached an agreement for its 2008 iron ore pellet and concentrate prices with German steelmaker ThyssenKrupp (TSK).
Consequently, the dollar price of acid blast furnace pellets has increased by 86.67 percent to US$2.2882/mt Fe unit on FOB basis compared to a year ago. In addition, the price of concentrate has risen by 68.75 percent to US$1.458/mt Fe unit on FOB basis when compared to 2007.
QCM, which is one of Canada's leading suppliers of iron ore to steel markets around the world, is currently making a major effort to expand its ore production capacity.