china 19 pc increase

BHP confirms 19 pct iron ore price hike agreement with Chinese steel customers
06.20.2006, 10:11 AM





LONDON (AFX) - BHP Billiton PLC has confirmed that it has agreed a 19 pct price increase for iron ore for 2006 with a number of its Chinese steel customers.

Earlier, Baosteel, the representative of Chinese steel firms, said it had accepted a price hike of 19 pct for contract iron ore deliveries by BHP, according to a report by the official Xinhua news agency.

Xinhua said Baosteel also reached the same price rise agreement with two other major iron ore suppliers -- Australia's Hamersley Iron and Brazil's CVRD.