Iron ore/Contract prices rise again

摘要

The first settlements of the 2008 contract price negotiations have been announced. Vale and steel mills in Japan and South Korea have agreed a 65 percent increase for Southern System fines (SSF) and 71 percent for the higher quality Carajas fines. Subsequently, TKS in Germany agreed a similar rise for SSF and a 66 percent increase for Carajas fines. These will come into effect at the beginning of April. Benchmark agreements for lump ore and pellets have, however, still to be concluded.