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BHP Billiton : Iron ore prices
BHP Billiton today announced that it has secured a 71.5% price increase for iron ore for 2005. Global demand continues to increase prices.
BHP Billiton said that the increase was necessary as the company incurred additional costs in meeting demand. BHP Billiton hoped to get a higher increase, but failed achieving an increase in line with its peers. The contribution from iron ore is included in the carbon materials business (which included other materials). The carbon materials business generated 23% of the operating profit in the half year.
BHP Billiton’s share trades at a prospective PE of 13.4× (708.5p) and has a 2.1% yield.
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