Welcome to Refwin.com Sign In Join Free Home Inquiry Contact Mobile Publications Free E-Weekly News
  • Directory
  • Price
  • Market
  • Buy
  • News
  • Calendar
  • Dictionary
Company News Industry News Refwin in the News Home > News

BHP Billiton Settles Iron Ore Prices with Many of Its Steel Customers

2005-05-24

BHP Billiton announced it had reached agreement with a number of its steel customers on prices for contracted iron ore tonnage for the 2005 contract year on April 15th, 2005 . The agreed prices are as follows: - Mt Newman High Grade Fines 61.72 US cents per dry metric tonne unit; an increase of 71.5 per cent. - Prices for Mt Newman High Grade Lump, Pisolite (Yandi), Marra Mamba (Area C MAC™) and Brockman (Yarrie) ores will also increase by the same percentage. BHP Billiton President Iron Ore Graeme Hunt said the price increases were a result of increasing global steel demand. “The growing demand for steel is causing a significant increase in demand for our products. Higher iron ore prices reflect the additional costs we are incurring to meet our customers needs now and in the future through new investment,” he said. Mr Hunt said that while BHP Billiton was not successful this year gaining recognition of the freight cost advantages to north Asian steel makers in sourcing Australian iron ore, the issue was still relevant. “We will continue to discuss this issue with our customers in the year ahead,” he said. Notes: Iron ore prices are denominated in US cents per dry metric tonne unit, which reflects a common base per unit of iron ore content. To determine the USD price per tonne, the following conversion formula must be used: - US cents per dry metric tonne unit multiplied by iron content; - The iron content for Mt Newman lump ores is about 65 per cent. In FY2004, BHP Billiton’s Western Australian iron ore operations shipped a record 88.3 wet million tonnes (100% basis) of ore. Japan continues to be BHP Billiton Iron Ore’s biggest customer, buying 41 per cent of its products, followed by China (23%), Korea (17%) Australia (9%) and Taiwan (7%). In 2004, the price of Mt Newman High Grade Lump was 45.93 US cents per dry metric tonne unit; an increase of 18.62 per cent. Mt Newman High Grade Fines was 35.99 US cents per dry metric tonne; an increase of 18.62 per cent.
About Us Site Map Service Our Partners Links Inquiry Contact FAQ Privacy Statement Technical Support

Sponsored by: ACRI (The Association of China Refractories Industry), Tangshan YinNaiLian E-Business Co., Ltd.

Copyright © 2005-2020 Refractories Window All Rights Reserved

Tel: +86-315-5918500 Fax: +86-315-5918828 Email: info@refwin.com

ICP经营许可证编号: 冀B2-20060049 ICP备案号: 冀ICP备17015545号

冀公网安备 13024002000198号 营业执照