Business Services Industry
Brazil extracts 19% from iron ore haggle.
Australasian Business Intelligence, May, 2006
Byline: Barry FitzGerald and Mary-Anne Toy
May 16, 2006 (The Sydney Morning Herald - ABIX via COMTEX) -- Brazilian iron ore producer, Companhia Vale do Rio Doce (CVRD), has signed a new European contract. The deal with German steel maker, ThyssenKrupp, includes a price increase of 19 per cent. It was announced on 16 May 2006. The agreement gives Australian iron ore producers, BHP Billiton and Rio Tinto, more ammunition in their negotiations with Chinese and Japanese steel mills. The steel sector, and China in particular, is resisting any rise in iron ore prices. CVRD did better than the market expected. Analysts had tipped a rise of between 10 and 15 per cent.
Publication Date: 17 May 2006
COMPANHIA VALE DO RIO DOCE
BHP BILLITON...
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