Hamersley locks in 4.3% iron ore price rise

RIO Tinto iron ore subsidiary Hamersley Iron said today it has thrashed out a price agreement with Japanese buyers for its fine, lump and Yandi iron ore deliveries for the contract year starting April 1.

Prices of fine ore and Yandi ore will each rise 4.3% to US28.98c per dry long tonne unit and US27.24c/dltu respectively, while lump ore will rise 3.23% to US38.03c/dltu.