Australia’s Atlas moves to monthly iron ore pricing

Pilbara iron ore exporter Atlas Iron will switch to monthly pricing when several of its long....

Pilbara iron ore exporter Atlas Iron will switch to monthly pricing when several of its long-term supply contracts reach completion in the next nine months.Iron ore contracts have been moving towards spot market prices since BHP Billiton shifted from yearly to quarterly pricing early last year.BHP confirmed last week that all its iron ore contracts had now switched from quarterly to monthly pricing, and Atlas revealed at the weekend that it planned to make a similar shift this financial year.