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English > Industry > Industry-Breaking News>BHP to Sell 23% of Iron Ore Output Via Long-term Contracts

BHP to Sell 23% of Iron Ore Output Via Long-term Contracts

07-30 12:26 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-07-29/110218230.html

» BHP Billiton said it has settled only 23 percent of its iron ore output at an agreed annual price, with iron ore fines priced 33 percent below the contract price last year and lumps at a 44 percent discount.
» The company has agreed to sell 30 percent of its iron ore output for the year to March 2010 using several pricing methods rather than through traditional long-term contracts.
» BHP Billiton said it will use a combination of quarterly-negotiated, spot and index-based prices.
» BHP said negotiations are proceeding over the remaining 47 percent of its iron ore production.
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