From The Age:

Global iron ore heavyweights have increased pressure on China to fall into line with the rest of the steel-making world and accept a 19 per cent increase in contract prices for shipments of the key material in 2006-07.

Pilbara producer Rio Tinto turned up the heat yesterday, saying that global demand for iron ore was now stronger than when price negotiations with the Chinese steel industry started six months ago. [Full Text]