Nippon strikes while iron is hot

by Obsidian — last modified Mar 03, 2005 12:00 AM

MARKET leaders who dismissed Nippon Steel's agreed price rise for iron ore supplies from CRVD as a one-off may have to eat their words.

The Japanese steel giant has signed an identical agreement with Rio Tinto's

Hamersley Iron in Australia, to increase the price of iron ore supplies for the contract year starting on April 1, 2005 by 71.5%.

And BHP Billiton...

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