re: iron ore pricing 2006 - postponed mid feb well ... CVRD, RIO and BHP sell 72% of the world's iron ore.
If they sell it on the open market, they'd get more for it than selling it under contract conditions.
But, the Chinese, Japanese and Europeans want it even cheaper than what market conditions demand.
Therefore, if all three of them stopped selling in contracts and forced the Chinese, Japanese and Europeans to pay top dollar on the open market then these countries would stop whining about taking a 20% increase on iron ore contracts.
I just don't see why these iron ore miners are expected to shed tears for the steel producers losing money. Who cares... what's that got to do with the miners? The steel prices should have to pay prices set by market conditions.
re: iron ore pricing 2006 - postponed mid feb well ... CVRD, RIO...
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