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  [A] Iron Ore - Annual Contract Prices  1976-2007 
  [B] Iron Ore - Monthly Spot Price - Fines Only  2007 
  [C] Iron Ore - Producers
  [D] Steel Makers Buyers of iron ore.
  [E] Miscellaneous Price Change Observations



  [A] Iron Ore - Annual Contract Prices        

     Contracted Prices
     units :  US Dollars per ton (dry metric ton or tonne).
              note that one metric ton or tonne = 1000 kg = 2205 pounds avoirdupois.
                         (1)        (2)         (3)
                        fines    lump ore     pellets
  contract  
      year      ___________________________________________________________
      1976     |        22.70       na          43.80 $s/metric ton (tonne)
      1977     |        23.00       na          42.80
      1978     |        21.50       na          36.40
      1979     |        23.30       na          39.90
      1980     |        28.10       na          47.00
      1981     |        28.10       na          43.00
      1982     |        32.50       na          47.50
      1983     |        29.00       na          39.00
      1984     |        26.10       na          36.00
      1985     |        26.50       na          36.00
      1986     |        26.20       na          36.60
      1987     |        24.50       na          36.70
      1988     |        23.50       na          40.30
      1989     |        26.50       na          47.30
      1990     |        30.80       na          51.60
      1991     |        33.20       na          52.10
      1992     |        31.60       na          48.40
      1993     |        28.10       33.00       43.60
      1994     |        24.40       30.40       43.60
      1995     |        26.90       33.30       49.10
      1996     |        28.50       35.20       52.40
      1997     |        28.80       35.20       52.10
      1998     |        29.60       36.20       53.50
      1999     |        26.90       32.20       46.40
      2000     |        27.60       33.90       49.20
      2001     |        28.90       35.10       50.10
      2002     |        28.60       34.30       47.30
      2003     |        31.40       37.30       52.00
      2004     |        37.30       44.40       61.80
      2005     |        64.00       79.00      115.50
      2006     |        76.20       94.00      112.00
      2007     |        83.40                          ' (fn1)
early 2008 Feb |       132.20                          ' 
 late 2008 Oct |        90.60                          ' 


     Sources : CVRD, Wall Street Journal, US Steel and
               other steel producers.

     fn1 = Based on news of 2006 Dec 22 deal between Baosteel and 
           CVRD for one year starting April 1, 2007.

           Price agreement prices.
           Iron Ore Prices - contracted prices
           Notes:  Brazil to Europe
           Contracts generally made in the spring/early summer 
           between iron ore producers and steel manufacturers.  
           The prices given below are prices arranged at the 
           beginning of May of the given year.
           (1) FINES :    the most heavily-traded category 
                          of iron ore.
           (2) LUMP ORE : Lumb ore consists of golfball sized pieces, 
                          and has higher iron content than fines.
           (3) PELLETS :  Iron ore in "pellets" are semi-refined 
                          iron ore; blast furnace pellets.




  [B] Iron Ore Spot Price - Fines Only 

     Spot prices based upon reports of buyers.
     units :  USD per metric ton or tonne, 2205 pounds.
               
     Month        iron ore
     yyyy-mm      spot price, fines
     _______     ______
     2005-03      90.00 $/tonne
     2005-04      76.00
     2005-05      77.00
     2005-06      57.00
     2005-07      62.00
     2005-08      69.00
     2005-09      67.00
     2005-10      64.00
     2005-11      66.00
     2005-12      66.00
     2006-01      61.00
     2006-02      64.00
     2006-03      63.00
     2006-04      66.00
     2006-05      64.00
     2006-06      67.00
     2006-07      66.00
     2006-08      67.00
     2006-09      66.00
     2006-10      70.00
     2006-11      70.00
     2006-12      70.00
     2007-01      78.00
     2007-02      82.00
     2007-03      91.00
     2007-04      95.00
     2007-05     100.00
     2007-06     102.00
     2007-07     102.00
     2007-08     125.00
     2007-09     151.00
     2007-10     170.00
     2007-11     180.00
     2007-12     185.00
     2008-01     180.00
     2008-02     196.00
     2008-03     191.00
     2008-04     186.00
     2008-05     178.00
     2008-06     177.00
     2008-07     183.00
     2008-08     150.00
     2008-09     109.00
     2008-10      62.00
     2008-11      71.00
     2008-12      77.00
     ...
     2009-04      58.00
     ...
     2013-12-10  123.40

     Sources:  EconStats based upon buyers reports.






  top
  [A] Iron Ore - Annual Contract Prices  1976-2007 
  [B] Iron Ore - Monthly Spot Price - Fines Only  2007 
  [C] Iron Ore - Producers
  [D] Steel Makers Buyers of iron ore.
  [E] Miscellaneous Price Change Observations

  [C] Iron Ore Producers 

     Top three iron ore suppliers account for 75 per cent 
     of ocean trade in iron ore:

     2008q1 production
   million metric tons   Firm:
   ___________________   __________________________________________________
                  83.2   Vale [Companhia Vale do Rio Doce (CVRD)] (Brazil) 
                  37.4   Rio Tinto (London-based Anglo-Australian)  170 million tonnes /year
                  28.0   BHP Billiton
                   8.2   Kumba
                   5.5   LKAB 
                         Fortescue Metals Group (FMG)                55 million tonnes / year








  top
  [A] Iron Ore - Annual Contract Prices  1976-2007 
  [B] Iron Ore - Monthly Spot Price - Fines Only  2007 
  [C] Iron Ore - Producers
  [D] Steel Makers Buyers of iron ore.
  [E] Miscellaneous Price Change Observations

  [D] Steel Makers   Buyers of iron ore.
 
     Steel production tonnages.
     Tonnages are 2006 May estimates and are in metric tons (or tonnes), 1000 kg, or 2205 pounds.

     - Mittal Steel:  India       60 million tons steel per year, six percent of total market.  Largely owned by Lakshmi Mittal.
     - Arcelor        Luxembourg  53 million tons steel produced per year.
                                  2006-01-13 Lakshmi Mittal suggests merger of Mittal and Arcelor
                                             to Arcelor CEO Guy Dolle, over dinner.
                                             Dolle rejects offer.
                                  2006-05    Mittal makes formal hostile offer, valued at $23.8 billion.
                                  2006-05-19 Mittal raises offer to $33 billion dollars.
                                  2006-05-19 Arcelor shareholders' annual meeting.
                                  2006-05-26 SeverStal (larvely owned by Alexei Mordashov) makes "white knight" offer 
                                             to buy 32 percent stake in Arcelor to spare Arceor from sale to Mitttal.
                                  2006-05-29 SeverStal increase target stake in Arcelor from 32 percent to 45 percent.
                                  2006       Evraz (controlled by Roman Abramovich) offers deal.
                                  2006-06-25 Arcelor board of directors unanimously agrees to 
                                             sale of Arcelor to Mittal for $33.8 billion.
     - ThyssenKrupp:      Germany.    17 million tons steel produced per year.  A major customer of CVRD iron ore.
     - Nippon Steel:      Japan       33 million tons steel produced per year.
     - JFE Steel          Japan       30 million tons steel produced per year.
     - Posco              Korea       31 million tons steel produced per year.
     - Shanghai Baosteel: China       23 million tons steel produced per year.  A major customer of CVRD iron ore.
     - TangShan           China       10 million tons steel produced per year.  Hebei Province.  Sales of 30 billion yuan in 2005.
     - US Steel:          USA         20 million tons steel produced per year.  
     - Nucor              USA         18 million tons steel produced per year.
     - Corus:             UK          14 million tons steel produced per year. 
     - SeverStal          Russia      17 million tons steel produced per year.  Owner:  Alexei Mordashov.
     - Evraz:             Russia      14 million tons steel produced per year.
                                      Alexandr Abramov 59 per cent stake of Evraz. 
                                      Alexandr Frolov  28 per cent stake of Evraz. 
                                      2006-06-20  Roman Abramovich, through Millhouse Capital, buys 41 percent of Evraz.
     - Dafasco:           Canada      Ontario.
     - Riva               Italy       17 million tons steel produced per year.







  top
  [A] Iron Ore - Annual Contract Prices  1976-2007 
  [B] Iron Ore - Monthly Spot Price - Fines Only  2007 
  [C] Iron Ore - Producers
  [D] Steel Makers Buyers of iron ore.
  [E] Miscellaneous Price Change Observations

  [E] Miscellaneous Price Change Observations

     1. Fines:     Grain-like ore.
                   Fines account for sixty percent of global iron ore trade.
                   2005 price :  $61.72 per ton
                   2006  19.0% Seller: CVRD.     Buyers: ThyssenKrupp, (May 16, 2006)
                                       Seller: CVRD.     Buyers: Baosteel      (May 30, 2006)
                                       Seller: Rio Tinto Buyers: Nippon, Posco (May 19, 2006)
                   2005  71.5% Seller: Companhia Vale do Rio Doce (CVRD) Rio Tinto.  Buyer: Nippon Steel and Posco
                   2004  18.6%
                   2003  10.0%
     2. Lump ore:  Golfball sized pieces, has higher iron content than fines and costs more.
                   2005 price : $78.77 per dry metric ton
     3. Pellets:   Iron Ore Pellets, semi-refined iron ore (blast furnace pellets).
                   2006  -3.0% Seller: CVRD.   Buyers: ThyssenKrupp, (May 16, 2006)

       2006 May 16 ThyssenKrupp agrees to price hike for the 2006 contract year.
       2006 Jun 20 China steel makers, through Shanghai Baosteel Group, agreed to 19% iron ore price rise from BHP Billiton.
                   http://www.chinadaily.com.cn/china/2006-06/21/content_622052.htm


       2006 Dec 22 CVRD of Brazil announced 9.5 % price hike from Shanghai Baosteel Group Corp, China's biggest buyer of iron ore.


       2008 Feb    Baosteel Group (China's largest steel maker) accepted Vale's price hike of 65 percent to 71 percent over previous year.
                   According to China Iron and Steel Association (CISA) total seaborne trade of iron ore is 805 million tons in 2007.