It is declared that five large Japan steel mills namely Nippon Steel, JFE, Sumitomo Metal, Kobe Steel and Newsteel, touched 2009 iron ore contract price with NMDC of India on July 10th 2009. For full story, click here
State-owned mining giant NMDC declared that it is likely to finalise the current fiscal’s long-term contract prices for iron ore with Japanese and South Korean steel mills within this week. For full story, click here
State-owned mining giant NMDC declared that it is likely to negotiate the current fiscal’s long-term contract prices for iron ore with Japanese and South Korean steel mills by July. For full story, click here
A new $664 million iron ore mine is coming up in Quebec-Labrador late this year and will swiftly hit the target annual output of eight million tonnes destined for Chinese and other Asian steel mills on long-term contract. For full story, click here
Reports reveal that there may be no Chinese benchmark iron ore price set this year because Chinese mills cannot be trusted to honour their contracts. For full story, click here
Cia Siderurgica Nacional SA reported that the price of Brazilian iron ore will probably dip by 20% in annual contract agreements this year. For full story, click here
Baffinland Iron Mines (TSE:BIM) announced today that they have signed a memorandum of understanding with the Qikiqtani Inuit Association. This is an early step in negotiating a Inuit Impact and Benefits Agreement covering employment, training, education, contracting, workplace conditions and other issues concerning the Inuit community in the area of the Mary River Project. Gordon McCreary, [...]
Mining giant Rio Tinto Ltd/Plc announced that its proposed deal with Chinese state-owned Chinalco would not influence iron ore contract price negotiations for the year ahead. For full story, click here
Goldman Sachs reported that it has deepened its contract iron ore price forecast to a record 40% decline because of slumping global steel production. For full story, click here
Iron ore spot price has declined to some USD 77 per tonne CIF as domestic steel price has gone back to the level in early December of 2008 after a short lived revive. Given contract iron ore price of USD 99 per tonne, the difference between contract price and spot price has widened to 30%. For [...]
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