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You are here: Home → Archive → 2009 → October → Weekly Edition 15th of October 2009 → Final year for annual pricing

Final year for annual pricing

by Jim Wilson — last modified Oct 15, 2009 03:04 PM

Freight Investor Services (FIS) believes the annual iron ore price negotiations will not survive beyond 2010, as steel producers shift from long-term contracts with miners to buying the commodity on the spot market.

The widely held view that the 40-year-old benchmark pricing system is no longer relevant reflects developments in the coal market at the start of the decade, when miners shifted from long-term contracts to the spot market.
“We see the...

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