Iron ore from South America with 65% more expensive

Metallurgic combinates of Japane and South Korea agreed for 65% increasing of the price, which they should pay about iron ore, imprted from Brazil, wrote Reuters. This is first serious moving for the years in this sector. The price agreed between two contries will be the level that should be paid from the steel producers. The shares of the companies - producers of steel, like Japanese Nippon Steel an Chinese Baosteel increased after this agreement. This was only because the market reacted good and the expected increasement was even bigger. "One of the negative factors over the shares prices was st free", commented the investors. Shares of Nippon Steel increased with 3.8%, and those of Baosteel with 2.85%. The index of the steel and iron sector in Tokio increased with 4.2%, while the avarage increasment of Nikkei was 0.7%. From the year started on the 1st of April, Nippon Steel and Shouth Korean Posco agreed to pay to the Brasilian mining giant Vale, 78.90$ for ton iron ore.
The shares of Australian companie BHP Billiton andè Rio Tinto decreased in expncting of new higher prices, reflecting trading avantage in deliveries of iron ore for Asia from Australia, in stead of South America. "Australian companies are too busy in the battle for absorption", commented analyzers.