19pc rise in iron ore

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Edited Press Release
LONDON (MarketWatch) -- BHP Billiton said Tuesday it has reached agreement with a number of its Chinese steel customers on prices for contracted iron ore tonnage for the 2006 contract year.
Prices increased by 19% over prices negotiated in respect of the 2005 year across the range of lump and fines iron ore products supplied by BHP Billiton.


LONDON (AFX) - BHP Billiton PLC has confirmed that it has agreed a 19 pct price increase for iron ore for 2006 with a number of its Chinese steel customers.

Earlier, Baosteel, the representative of Chinese steel firms, said it had accepted a price hike of 19 pct for contract iron ore deliveries by BHP, according to a report by the official Xinhua news agency.

Xinhua said Baosteel also reached the same price rise agreement with two other major iron ore suppliers -- Australia's Hamersley Iron and Brazil's CVRD.