Rio agrees to 33% cut in iron ore price

If this email is not displayed correctly, please click on the following link or open your browser and paste the link into the address field: http://view.ed4.net/v/UXDMSS/MMJHY/7U1AHQ/LJ8HZ/   Breaking news Tuesday May 26 2009 Breaking News   Rio agrees to 33% cut in iron ore price Rio Tinto has agreed a 33 per cent cut in the annual contract price for iron ore with Japan's Nippon Steel, the first deal struck between a miner and a large steel group that will influence agreements being negotiated by BHP Billiton and Brazil's Vale with steel customers. The deal with Nippon snaps the six consecutive years of iron ore price increases totalling 500 per cent, which had been propelled by the industrialisation and urbanisation of China, the world's largest iron ore consumer. http://link.ft.com/r/UXDMSS/0J7RS/KSGTA/09XHO/C8KRU/QR/h Tools Your account    Portfolio Email Briefings    Price alerts Keyword alerts    RSS feeds © THE FINANCIAL TIMES LTD 2009 ABOUT THIS EMAIL You have received this email because you have signed up for this keyword/company alert on FT.com Change Briefings  •   Unsubscribe  •   Change Email Address  •   Forward this email to a friend  •   Privacy Policy  •   About Us  •   Help The Financial Times Limited, registered in England and Wales number 227590. Registered office: Number One Southwark Bridge, London SE1 9HL. VAT number GB 278 5371 21.