Miners will demand hefty price increases for iron ore and coking coal during the annual contract negotiations that start in China this week, opening the door for a clash with Beijing on the cost of the commodities.
The demand comes amid a rally in commodities prices, from crude oil to copper, on the back of strong China growth and a weak dollar, and is likely to boost miners' shares, which have surged since January.
Vale of Brazil, Rio Tinto and BHP Billiton will ask for a 30-35 per cent increase in iron ore prices for 2010-11, partially reversing the 33 per cent cut agreed for 2009-10, according to mining executives familiar with the negotiations.
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