IRON-ORE
Chinese steel mills have balked at global miner Rio Tinto's plan to charge a premium in long-term contracts for its highest grade of iron-ore, rekindling the conflicts that caused the collapse of an annual pricing system seven years ago.
The world's second-biggest iron-ore miner is seeking a premium of at least 15c/t above the index price for its flagship Pilbara Blend iron-ore product, or PB fines, for all new long-term contracts, according to sources at two Chinese steel mills with knowledge of the talks.
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