Main traders agree on quarterly contracts for iron ore, but no mention of China

Wednesday, March 31st 2010 - 02:14 UTC

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Two of the world's biggest mining companies have agreed landmark deals with Asian steel mills to buy iron ore on quarterly contracts. The deals could mark the end of annual contracts that have formed the basis for pricing in the steel industry for decades.
Vale and BHP Billiton said the new system was fairer and more transparent. Read full article

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yearly China's steel production is ...2.900 millions tons .

China produces 34% of World Steel Production.

China consumes 25% of World Steel Consumption.

World's carbon steel market value is ..1 trillion $US.
World's stainless steel market value is..120 billion $US.
Mar 31st, 2010 - 07:29 am - Link - Report abuse 0
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