Iron ore prices are are negotiated only once a year, with the final date for a price decision being the 30th of April each year. The main negotiating parties are representatives from Rio-Tinto, BHP and a Brasilian Mining conglomerate on the supplier side and the Japanese, the Chinese, the Europeans and Koreans on the purchasing side. Last year the Iron ore price increased by 18-19% and the previous year by a massive 71%. This coming year, it's expected to either remain at the present levels (around $70 a tonne) or increase marginally (7-10%).......
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Iron ore prices are are negotiated only once a year, with the...
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