Iron sands cut-back
PA Tokyo New Zealand Steel Mining, Ltd, the New Zealand iron sand shipper, has accepted a 12.5 per cent price cut for iron sand shipped to Japanese steel mills in the current fiscal year which began in April, Kawasaki Steel Corporation announced.
An agreement reached in negotiations here between the shipper and six Japanese steel firms has been signed, it said. The New Zealand shipper also agreed to lower fiscal 1983 shipments to 1.3 million tonnes from 1.4 million in fiscal 1982, Kawasaki, one of the six firms, added. The Japanese steel firm said that the new price of the New Zealand iron sand from Taharoa mines is 18.988 U.S. cents per unit of iron content, on a f.o.b. basis.
The Japanese steel makers, faced with stagnant, steel demand at home and abroad, and steel production cut-backs, have wanted to buy less and pay less this year, industry sources said.
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Press, 1 July 1983, Page 17
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153Iron sands cut-back Press, 1 July 1983, Page 17
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