Taiwanese steelmaker China Steel Corporation (CSC) and Brazilian iron ore giant Companhia Vale do Rio Doce (CVRD) this week signed a new long-term iron ore contract.
In line with the contract, CVRD will supply CSC with approximately 1.8 million tons of iron ore per year for the next ten years.
CSC, which started purchasing iron ore from CVRD in 1977, has stated that the new iron ore contract indicates the intention to strengthen the excellent business relationship that already exists between the two parties.