Rio Tinto Seeks 20% Price Hike For 3Q Iron Ore To China -Report

9th Jun 2010 03:54

SHANGHAI (Dow Jones)-- Anglo-Australian resource giant Rio Tinto Ltd. (RIO.AU) has notified Chinese steelmakers that the price of iron ore for the July-September period will be raised some 20% from the previous quarter, the state-run China Securities Journal reported Wednesday. The price offer of $147 a metric ton "was sent to us via an email, and (Rio Tinto) is waiting for our reply," the newspaper cited an official from the international trading department of a large steel mill as saying. The quarterly hike in iron ore prices is similar to what Rio Tinto offered to Japanese steelmakers, it said. Newspaper Website: http://www.cs.com.cn/ -Yue Li contributed to this article; Dow Jones Newswires; (8621) 6120 1200; [email protected] (END) Dow Jones Newswires June 08, 2010 22:54 ET (02:54 GMT)