Peter Theut
CHINA: "China Pursues Excellence in Logistics" report. 16-page report by A.T. Kearney.
proceed to download
backCHINAtalk July, 2008
Steelmakers agree to huge iron ore price hike
Mining giant Rio Tinto has secured a record 96.5% increase in iron ore prices following negotiations with Chinese steelmakers, the Financial Times reported. This is well beyond the 9.5% increase paid last year and it is likely to have a knock-on effect on the cost of cars, machinery and other products, exacerbating fears of global inflation. The price increase, which works out to an average of 85% across several categories of iron ore, beats the previous record rise of 71.5% set in 2005.
Traditionally, industry-wide contract prices for iron ore have been negotiated by Brazil's Vale Do Rio Doce, with Australia-based Rio Tinto and BHP Billiton following suit. But Vale's agreed increase of 65-71% was rejected by the Australian miners on the grounds that the proximity of their iron ore to China reduces shipping costs and therefore warrants a premium price. BHP has yet to confirm whether or not it will accept the price secured by Rio as a benchmark.
Source: China Economic Review - GAI
To download: GLOBAL: "Pricing Perspective Series: Steel" executive white paper, click here.
Economist's Corner: Potential problems for firms with China operations
read on
Driving forces in China's car market
read on
China Rising
read on
Global Supply Chain News: China says it is Taking Intellectual Property Protections to a New Level
read on
Rising costs hit China's manufacturers - surveys
read on
Rationalism Trumps Nationalism When Chinese Consumers Choose a Brand
read on
'Getting to know you' the key to Shanghai business
read on
Navigating China's Visa Problem
read on
Hong Kong: Court Clarifies Application of DIPN 21 on Locality of Profits Issue
read on
Fuel Prices Raised Sharply in China
read on
Chinese Economic Performance in the Long Run
read on
Steelmakers agree to huge iron ore price hike
read on
China's car sales up 17.41% in Jan-May period
read on
China's trade surplus falls nearly 12% in H1
read on
FDI in China up 45.6% in Jan-Jun period
read on
A stronger dollar is good for US: China
read on
State firms seek global talent
read on
China forecast to be Brazil's top trade partner
read on
Getting a job may be tougher for graduates
read on
Counting Expat Numbers a Complex Task (Hong Kong)
read on
Forwarders and shippers say demand for intra-China transport is growing, but capacity is lagging behind
read on
Hundreds of alternative-fuel vehicles hit the Olympics road
read on
subscribe to eJournals
View our blogs:
The Asian Automotive Industry Market
The Brazil Automotive Industry Market
The Chinese Automotive Market
The European Automotive Market
The Global Automotive Market (HR edition)
The Indian Automotive Market
The Mexican and Latin Automotive Market
The U.S. Automotive Market
To visit GlobalAutoExperts Directory, click here.