An annual iron ore pricing deal between Asian steelmills and Australia’s BHP Billiton is unlikely to be settled soon because of issues of carry-over amounts from pricey 2008 contracts. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
By Kishori Krishnan Exclusive To Iron Investing News It was bound to happen. Brazilian stocks dropped for the first time in three days, paring their best monthly gain in a year, on concern that the rebound in commodity prices may not be sustainable as the global economic slowdown deepens. Cia Vale do Rio Doce, (NYSE:RIO) [...]
Could long-term contract prices of iron ore be 40% lower in 2009-10 than last year? Even before the annual round of talks for iron-ore contracts in April, the industry is talking about the need of mining companies to lower prices significantly, given the 40-50% drop in spot prices over the last few months. Analysts of [...]
New contracts being negotiated at lower prices are welcome at a time when weaker demand for steel from key user sectors has resulted in the government-owned firm’s volumes falling by about 20 per cent in the December 2008 quarter. For full story, click here
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