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    Rio Tinto wins 19% iron ore price increase from Japan

    2006-05-19 08:49:24   【Print】

    BEIJING (Asian Metal) 19 May 06 - Rio Tinto Ltd said it has received a price increase of 19 pct for iron ore prices with major Japanese steel mills for contract year beginning April 1.

    The miner said the contracts are with its Hamersley iron ore operations in Western Australia's Pilbara region.

    Rio Tinto's chief executive of iron ore Sam Walsh said the price increase reflects the current international market of extremely tight supply and continuing high level of demand.

    The price rise comes after Brazil's Companhia Vale do Rio Doce (CVRD), the world's largest iron ore producer, secured a 19 pct increase for 2006 from Germany's biggest steel maker Thysseen Krupp Stahl AG.Asian Metal CopyrightBEIJING Asian Metal 19 May 06 - Rio Tinto Ltd said it has received a price increase of 19 pct for iron ore prices with major Japanese steel mills for contract year beginning April 1.Asian Metal Copyright
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