Brazilian miner Vale, the world's largest iron ore exporter, announced Wednesday that it has completed negotiations on the price of iron ore fines with Italy's biggest steelmaker Ilva.
The new prices represented a rise of 65 percent in the price for the iron ore produced in the Southern System (Minas Gerais state), reaching 1.3441 U.S. dollars per dry metric ton Fe unit. The price for the iron ore produced in the Carajas region, northern Brazil, topped 1.4060 U.S. dollars per dry metric ton Fe unit, up 66 percent from the amount used as reference in 2007.
Another company has accepted the price rise set by the Brazilian company for the European market. Vale also announced Tuesday that it had concluded negotiations with ThyssenKrupp, Germany's largest steelmaker.
Source:Xinhua
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