Rio Tinto and Nippon Steel agree on price increase

Rio Tinto and Nippon Steel agree on price increase

According to recent news in the market, Anglo-Australian Rio Tinto and its Japanese partner Nippon Steel agreed upon increase in prices of iron ore deliveries for Hamersley and Yandi to be in effect as of April 1, 2004. The price increase to be applied both on fine ore and Yandi ore will be 18.62%. With this increase, fine ore price will be $35.99 per dry metric ton unit and Yandi ore price will be $33.83 per dry metric ton unit.