Wednesday, June 22,
Rio Tinto PLC has agreed to adopt monthly pricing contracts for its iron ore, adopting the more flexible pricing as long-term supply deals expire, the Australian Financial Review reports Wednesday, citing company executives.
The Anglo-Australian mining company won’t impose new terms on customers and isn’t interested in playing the swaps market, the AFR reports.
Rival BHP Billiton Ltd. has led the charge for shorter-term pricing of iron ore, including a push toward monthly prices.
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