TKS agrees on 79% price hike for iron ore
Brazilian mining giant Companhia
Vale do Rio Doce (CVRD) announced yesterday that it had completed
iron ore price negotiations with German steel producer ThyssenKrupp Steel (TKS).
Accordingly, TKS agreed to pay 79% more for granulated
iron ore this year.
Of the 14 million tons of
iron ore that TKS buys from CVRD, 2 million tons are of the granulated variety.
TKS is expected to hike its prices soon in order to compensate for the rising costs of steel making.