Chinese Steel mill inks Rio Tinto iron ore deal at lower price, market sources say

Sep 02, 2010 | 11:09 AM |

At least one Chinese steelmaker claims it has reached fourth-quarter iron ore contracts with Rio Tinto at $127 per tonne f.o.b., marking a 12.4-percent decline from the previous quarter, industry sources in China said.

The Anglo-Australian miner has reportedly agreed to sell Pilbara blend fines at $127 per tonne f.o.b. to a steelmaker in eastern China, a source close to the mill said.....

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