Global mining giants
Rio Tinto and
BHP Billiton, and
China's largest steelmaker, Baoshan Iron and Steel Group (
Baosteel), have completed their talks on the April 2007-April 2008
iron ore price, agreeing on a 9.5 percent increase.
The world's number one
iron ore miner Companhia
Vale do Rio Doce (CVRD) has wrapped up price talks with Chinese steelmakers, agreeing to a 9.5 percent increase.
Rio Tinto and
BHP Billiton are continuing to negotiate with steel mills in Asia, including the Chinese.