iron ore & coal pricing 2006 - update
Page 14 in today's Financial Review:
"Resources maintain the pace" - by Stephen Wyatt in Shanghai.
....... commodity price boom remains alive and well."
.... 10% to 15% increase in iron ore price expected.
.... hard coking coal expected at US$121 / tonne (fob) compared with US$125 / tonne (fob) on existing pricing (based on supposedly contract settlement by Xstrata).
...... Thermal coal might drop 13.5% to US$45 / tonne from US$52 / tonne (currently) - based on current spot price.
Page 11 (Weekend Financial Review)
.... Negotiations with Asian steel mills resume in Japan in the coming week.
... BaoSteel, China's largest steel maker, had taken the unprecedented step of meeting BHP at its marketing HQ in Singapore to discuss pricing ..... bears no ill-will against BHP from last year's negotiations.
..... Spot price of iron ore from India is US$49 to US$52 / tonne, which is above Morgan Stanley's forecast of 20% increase to US$46.63 / tonne.
RIO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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