BHP release...pretty much in line with what Tom Price spoke of at the presentation.
BHP Billiton today announced that it had reached agreement with a significant number of customers throughout Asia to move existing iron ore contracts that were previously priced annually onto a shorter term landed price equivalent basis. The agreements reached represent the majority of BHP Billiton?s iron ore sales volume. The structural change that these settlements represent is consistent with BHP Billiton achieving market clearing prices.
Small article on page 26 of today's hard copy of AFR re rising I/O price being good for junior coys
cheers
iron ore investor presentation:canary events, page-23
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