Rio Tinto to get 96.5% more for iron ore - steel price hike predicted
1 Jul 2008
The timber industry is predicting a swing away from steel in heavy construction to more environmentally friendly wood as a result of a deal between Rio Tinto and Chinese steel maker Baosteel which could see a jump in steel prices.
Under the terms of the deal, Rio Tinto will enjoy a 96.5 per cent increase in the price it charges Baosteel for iron ore.
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Story copyright © Carbon News 2008
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