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Rio Iron Ore Deal May Sink BHP Price Plan: Analysts

By James Regan SYDNEY (Reuters) - Miner BHP Billiton BHP BLT may be forced to scrap its plan to rewrite the way billions of dollars of iron ore are sold every year after rival Rio Tinto RIO RIO struck a benchmark deal with...

Tags: China, Australia, Sydney, pricing strategy, agreement, analyst, Thomson Reuters Corp., valuation, industry, sales

News items 2008-06-23

Additional Resources

Rio Tinto almost doubles price of iron ore for Chinese market

Rio Tinto secured a record 85 per cent increase yesterday to the price that China, it biggest customer, pays for its biggest product, iron ore, underlining China's desperation to secure raw materials to fuel its industrialisation and stoking fears that global inflation will continued unabated. The price...

Articles 2008-06-24

Rio Tinto Announces 2008 Iron Ore Price Settlement

LONDON -- Rio Tinto Iron Ore subsidiary Hamersley Iron has today reached agreement with China's Baosteel on the price for Hamersley iron ore deliveries for the contract year commencing 1 April 2008. Under this agreement, the new prices for Hamersley will be: Pilbara Blend Fines/ Yandicoogina...

Articles 2008-06-23

China agrees to nearly double ore price

SHANGHAI AFP — Baosteel, China's largest steelmaker, said Tuesday it had agreed to nearly double what it pays Anglo-Australian mining group Rio Tinto for iron ore. Baosteel, acting on behalf of China's steel industry, negotiated to pay between 80 and 97 percent more than last year depending on...

Articles 2008-06-23

Rio Tinto to hike iron ore price for China by 80-97 percent

LONDON AFP — Anglo-Australian mining group Rio Tinto said Monday that it had agreed a near doubling of the price of its iron ore sales to Chinese steel maker Baosteel. Prices are to increase by 80-97 percent depending on the category of iron ore, which is a vital...

Articles 2008-06-23

Baoshan Iron & Steel Co. Ltd Assigned 'A' Sustainability Rating on Positive Performance

SHANGHAI, China, June 17 /Xinhua-PRNewswire/ -- Sustainability ratings and index firm RepuTex, today announced an international 'A' rating for Baoshan Iron & Steel Co. Ltd (Pink Sheets: BAOSF; SSE: 600019), China's largest iron and steel maker. The rating reflects the company's satisfactory progress in the development of effective sustainability...

Articles 2008-06-17

Baoshan Iron & Steel Co. Ltd Assigned 'A' Sustainability Rating on Positive Performance

SHANGHAI, China, June 16 /Xinhua-PRNewswire/ -- Sustainability ratings and index firm RepuTex, today announced an international 'A' rating for Baoshan Iron & Steel Co. Ltd, China's largest iron and steel maker. The rating reflects the company's satisfactory progress in the development of effective sustainability practices. Baoshan's 'A'...

Articles 2008-06-16

BNY Mellon Asset Servicing Selected as Overseas Custodian of SGAM Fund Management Co's First QDII Fund

SHANGHAI, China, June 10 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected as Overseas Custodian for Fortune SGAM Fund Management Co's first QDII, entitled the CCB Fortune SG Overseas Growth Equity Fund. The Fortune SGAM Fund Management Company is a...

Articles 2008-06-10

Baosteel stake-building talk bolsters BHP

MARKET REPORT Late-afternoon rumours of a Chinese advance propelled BHP Billiton to the top of the FTSE 100 leader board yesterday. The talk centred on Baosteel, the Chinese state-backed iron and steel conglomerate, which was rumoured to be close to acquiring a significant stake...

Articles 2008-04-09

BHP Billiton shares surge on report China eyeing stake

SYDNEY AFP — Shares in BHP Billiton surged more than five percent Wednesday after a report in Australia that China was poised to buy a multi-billion dollar stake in the world's largest miner. The Australian newspaper, citing sources in Beijing, said China was working on a plan for...

Articles 2008-04-08

BAOSTEEL TO LIFT STEEL FUTURES PRICES FROM MAY 2008

AsiaInfo Services03-24-2008Baosteel to Lift Steel Futures Prices from May 2008SHANGHAI, Mar 24, 2008 SinoCast via COMTEX -- Baoshan Iron & Steel Co., Ltd. (Baosteel and SHSE: 600019), one of China's largest steelmakers, announced yesterday that it would lift futures prices of part steel by about CNY 300 a ton from...

Articles 2008-03-24

SINOCHEM HEIBEI JOINS HANDS WITH BAOSHAN IRON & STEEL

AsiaInfo Services03-24-2008SinoChem Heibei Joins Hands with Baoshan Iron & SteelBEIJING, Mar 24, 2008 SinoCast via COMTEX -- SinoChem Hebei Corporation, a subsidiary of China's state-owned company SinoChem Corporation, signed a strategic cooperation contract on ferrochrome supply with Shanghai-based Baoshan Iron & Steel Co., Ltd. (SHSE: 600019) on March 20, 2008,...

Articles 2008-03-24

BAOSTEEL GROUP TO MERGE 2 GUANGDONG STEELMAKERS

AsiaInfo Services03-24-2008Baosteel Group to Merge 2 Guangdong SteelmakersGUANGZHOU, Mar 24, 2008 SinoCast via COMTEX -- Chinese steel tycoon Shanghai Baosteel Group Corp. has recently been allowed to acquire and integrate Guangdong Shaoguan Iron and Steel Group Co., Ltd. and Guangzhou Iron & Steel Group Co., Ltd., two small- and medium-sized...

Articles 2008-03-24

BAOSTEEL GROUP ALLOWED TO BUILD ZHANJIANG IRON & STEEL BASE

AsiaInfo Services03-21-2008Baosteel Group Allowed to Build Zhanjiang Iron & Steel BaseZHANJIANG, Mar 21, 2008 SinoCast via COMTEX -- Shanghai Baosteel Group Corporation, one of China's leading steelmakers, has recently been allowed to invest about CNY 60 billion in the construction of an iron and steel base in Zhanjiang, Guangdong Province,...

Articles 2008-03-21

CHINA GRAND AIRCRAFT FIRM TO GET CNY20BN INVESTMENT

AsiaInfo Services03-20-2008China Grand Aircraft Firm to Get CNY20bn InvestmentSHANGHAI, Mar 20, 2008 SinoCast via COMTEX -- A joint stock firm will be formed in Shanghai for China's grand aircraft project, expecting to get total investment of CNY 20 billion.The State-owned Assets Supervision and Administration Commission will be the largest shareholder...

Articles 2008-03-20

RIO TINTO SHOWS PATIENCE WITH PRICE TALKS WITH CHINA

AsiaInfo Services03-14-2008Rio Tinto Shows Patience with Price Talks with ChinaBEIJING, Mar 14, 2008 SinoCast via COMTEX -- Chinese steel producers and the two Australian iron ore giants, BHP Billiton and Rio Tinto, seem not to break the stalemate in their price negotiation in a short time.Baosteel Group and other Asian...

Articles 2008-03-14

CHANG'AN AUTO ESTIMATES 2008 PURCHASE COST TO GROW CNY100MN

AsiaInfo Services03-14-2008Chang'an Auto Estimates 2008 Purchase Cost to Grow CNY100mnCHONGQING, Mar 14, 2008 SinoCast via COMTEX -- Chang'an Automobile Group Co., Ltd., a Chongqing-based Chinese homegrown carmaker, forecasts that its 2008 purchase cost will increase by CNY 100 million due to price rise in steel products.The average price of steel...

Articles 2008-03-14

CHINA TO SPEND CNY50BN PREPARING FOR JUMBO AIRCRAFT PROJECT

AsiaInfo Services03-10-2008China to Spend CNY50bn Preparing for Jumbo Aircraft ProjectBEIJING, Mar 10, 2008 SinoCast via COMTEX -- China's jumbo aircraft project is expected to cost CNY 30 billion to CNY 50 billion at a preparatory stage, which lasts ten years at most.The nation is about to form a joint venture...

Articles 2008-03-10

BAOSTEEL GROUP: NO.1 VENDOR OF STEEL WIRE FOR BRIDGE CABLES

AsiaInfo Services03-06-2008Baosteel Group: No.1 Vendor of Steel Wire for Bridge CablesSHANGHAI, Mar 06, 2008 SinoCast via COMTEX -- China's iron and steel bellwether Baosteel Group announces that it has produced more than 70,000 tons of steel wire that is for bridge cable production and become the No. 1 domestic supplier.A...

Articles 2008-03-06

EXPERTS ASK FOR LAWFUL GUARANTEE FOR CHINA GRAND PLANE CAUSE

AsiaInfo Services03-06-2008Experts Ask for Lawful Guarantee for China Grand Plane CauseBEIJING, Mar 06, 2008 SinoCast via COMTEX -- Experts in China's civil aviation field propose that the country's legislative authority will write a law for its grand aircraft project to ensure its successful and stable development.A joint stock company for...

Articles 2008-03-06