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Oil Report

FACTBOX-Vale iron ore prices to Asia since 1993

 Feb 18 (Reuters) - Japanese and South Korean steel mills
have agreed to a 65 percent increase in iron ore prices with
world No.1 producer, Vale VALE5.SA of Brazil, at the top end
of analyst estimates and heaping more misery on cost-burdened
steelmakers.
 Iron ore prices have risen steadily since 2003, having
gained almost fivefold in the past decade, as China's booming
steel industry devours ever more feedstock. For the full story
click on [ID:nPEK348125]
 Following is a table on iron ore settlement prices based on
Vale's Asia reference prices. Standard sinter feed is priced in
U.S. cents per one percent iron per dry tonne. Price $/tonne is
a Reuters calculation based on an iron content of 65 percent
per tonne of ore.
     Standard    Price $/tonne  Pct Change
    sinter feed    65 pct Fe      on year
 1994     23.01         14.96       -9.48
 1995     24.34         15.82        5.78
 1996     25.80         16.77        6.00
 1997     26.08         16.95        1.09
 1998     26.82         17.43        2.84
 1999     23.87         15.52      -11.00
 2000     24.91         16.19        4.36
 2001     25.98         16.89        4.30
 2002     25.36         16.48       -2.39
 2003     27.64         17.97        8.99
 2004     32.79         21.31       18.63
 2005     55.34         35.97       68.77
 2006     65.85         42.80       18.99
 2007     72.11         46.87        9.50
 2008    118.98         77.34       65.00
 Sources: Vale reference prices, except 2008 which is based on
steelmakers, Reuters




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