Chinese steel mills accept 19 percent iron ore price rise

Bloomberg today reports that the Baosteel Group, which represents China's steelmakers in negotiations with iron ore suppliers, has accepted a 19 percent increase in the price of iron ore from BHP Billiton, matching the price rises earlier agreed by European, Japanese and other Asian steelmakers.

For full report, see http://www.bloomberg.com/apps/news?pid=10000081&&sid=a6GC1f78A3ac&&refer=australia.

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