Baosteel and Kumba Agreement on 2005 Iron Ore Prices
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Chance [2011-05-20]
After negotiations held by the parties last week, Baosteel, the largest steel maker in China, concluded the iron ore price negotiations with South Africa-based Kumba.
As an outcome of these negotiations, iron ore prices (FOB) for Kumba lump and fine iron ore increased respectively by 71.5% relatively to 2004.