Miners likely to seek parity with spot: benchmark prices could rise by 80%

08 March 2010 00:00

The outlook for 2010 iron ore benchmark prices has moved to levels thought untenable until a few weeks ago as negotiations continued and debate heats up. One analyst has predicted this year’s settlement will be 80% higher than last year’s level. A senior ArcelorMittal executive was reported last week as confirming this view. “What we’re hearing from Asia is in the direction of 70-80%,” Robrecht Himpe, ceo of ArcelorMittal’s Flat Carbon Europe business, told The Australian. Underpinning the revised predictions has been the run-up in spot iron ore prices to as high as $140 per tonne cfr China — a level that is close to double last year’s default annual contract prices. Earlier last week Chinese media suggested that BHP Billiton, Rio Tinto, and Vale had tabled a 50% demand in benchmark...

You are currently only viewing a sample of a 664 word article. To view the full article you must be a subscriber to Metal Bulletin or sign-up to a free trial to the Metal Bulletin website

Not a subscriber? Register for your FREE Metal Bulletin seven day trial now

As a subscriber you will receive:

Access to the Metal Bulletin website, with live news and the latest iron & steel, non-ferrous and scrap metals prices - plus access to archive news and prices data.
Daily emails every working day of the year giving you the latest market-moving news along with our own reference prices and exchange-traded quotations;
A weekly hard copy magazine featuring news, reports, metal prices, analysis and comments;
Plus much more.

Quite simply, no other information service can offer you the same frequency, breadth and depth of steel and metals market intelligence as Metal Bulletin - subscribe now and become one of the continually better informed.

Already a subscriber?

If you are an existing Metal Bulletin subscriber please enter your username and password to continue.

If you are experiencing any difficulty please call +44(0) 20 7779 7390 or email help@metalbulletin.com.

Miners likely to seek parity with spot: benchmark prices could rise by 80%

Not a subscriber? Register for your FREE Metal Bulletin seven day trial now

As a subscriber you will receive:

Already a subscriber?

If you do not know your login or password please click on the "Forgot Password?" link above or contact customer services at (0)20 7779 7390.

Non-Ferrous Prices

Iron & Steel Prices

Scrap Prices

Email Newsroom