Sunday, February 17, 2008

2008 iron ore price rise

Reports are coming in that Nippon Steel has just agreed an iron ore price increase, effective 1st April 2008. The price rise is 65%.

Steel mills typically accept whatever price is first settled with one of the big three miners, so it seems probable that the 65% iron ore price increase will be the benchmark settlement for other deals in the coming weeks.

For original report, see http://uk.reuters.com/article/oilRpt/idUKL176439220080217

blogger@steelonthenet.com

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1 Comments:

Blogger harry potter said...

how this increase will influence the shipping market?
will transport become cheaper like 2005 when increase was of abt 75%?

 2:02 PM  

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