CVRD, Ilva agree on iron ore price hike for ’07

Dec 29, 2006 | 10:46 AM | Maria Guzzo

The price of iron ore pellets could go up in 2007 for North American users now that one of the world's major producers has settled talks with an Italian steelmaker.

Cia. Vale do Rio Doce (CVRD), Rio de Janeiro, said it concluded negotiations for 2007 with Ilva SpA, Milan, Italy, and garnered a blast furnace pellet price increase of 5.28 percent f.o.b. Tubarão and Ponta da Madeira.

Although 2006 saw international steelmakers receive a 3-percent reduction in the price of pellets, that came after they agreed to a huge 86.5-percent hike in 2005; and smaller price increases in the two years prior to that.....

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