By Melissa Pistilli-Exclusive to Iron Investing News Customers of the world’s three largest iron ore producers have asked for shipment deferrals leading the big miners to consider production cutbacks. Vale [NYSE: RIO], the world leader, has cut output by 10 per cent and maintains it will cooperate with customers needs. Rio Tinto [RTP] has also [...]
By Melissa Pistilli-Exclusive to Iron Investing News As China’s economic growth began to slow into the third quarter this year, many pointed a finger at factory closures during the Olympics. But now there is little doubt that the spreading global economic crisis is taking a toll on Asia’s largest boom economy. And it’s becoming quite [...]
By Melissa Pistilli-Exclusive to Iron Investing News For nearly thirty years, the pricing mechanism for iron ore has involved annual price negotiations between the world’s three leading mining giants and major steel mills. This year’s negotiations led to 79.88 per cent to 96.5 per cent price hikes for Rio Tinto and BHP Billiton with a [...]
Tuesday, November 18, 2008