Vale Settles 2008 Benchmark Iron Ore Fines Prices with China Steel Corporation.
PR Newswire Europe, February, 2008
RIO DE JANEIRO, Brazil, February 25 /PRNewswire/ --
Companhia Vale do Rio Doce (Vale), the world's largest iron ore producer, concluded the iron ore fines price negotiations for 2008 with China Steel Corporation, the largest Taiwanese steelmaker.
As an outcome of these negotiations, the iron ore prices for Southern System fines (SSF), FOB Tubarao, increased by 65% relatively to 2007. At the same time, due to its recognized superior quality, it was agreed that the price for Carajas iron ore fines (SFCJ) will have a premium of US$ 0.0619 per dry metric ton Fe unit over the 2008 price for SSF.
Therefore, the new reference prices per dry metric ton Fe unit for 2008 are US$ 1.1898 for SSF and US$ 1.2517 for SFCJ.
The magnitude of the...
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