From the AustralianSTEEL giant ArcelorMittal expects prices for...

From the Australian


STEEL giant ArcelorMittal expects prices for iron ore to rise up to 80 per cent for long-term contracts that have to be extended in the coming month.

"What we're hearing from Asia is in the direction of 70 per cent to 80 per cent," Robrecht Himpe, chief executive of the steel giant's Flat Carbon Europe business, told Dow Jones Newswires in an interview.

http://www.theaustralian.com.au/business/mining-energy/arcelormittal-sees-iron-ore-prices-for-long-term-contracts-rising-up-to-80pc/story-e6frg9dx-1225836783636