FMG, China agree on iron ore pricing

FORTESCUE Metals Group has made an unprecedented deal with Chinese steel mills, settling its iron ore prices around 3% lower than the benchmark.

FMG, China agree on iron ore pricing FMG, China agree on iron ore pricing FMG, China agree on iron ore pricing FMG, China agree on iron ore pricing FMG, China agree on iron ore pricing

In more evidence the historical benchmark pricing system is on the rocks, FMG said today it had made the deal to sell 20 million wet metric tonnes to Chinese steel mills at around US94c per dry metric