Vale agrees 86.67% pellet price hike for M. East & N. Africa

Thursday, 03 April 2008 14:32:29 (GMT+3)   |  
       

Brazilian iron ore giant Vale has announced its agreement to an 86.67 percent hike in prices for direct-reduction iron ore pellets delivered to certain Middle Eastern and North African steel producers, effective from April 1, 2008. The companies in question include Saudi Arabia's Saudi Basic Industries, Qatari steel producer Qatar Steel, Egypt's El Ezz Steel Rebars and Libyan Iron and Steel.

Rio De Janerio-based Vale has stated that its FOB price for this refined form of iron ore has increased up to $2.4222 per iron unit for shipment from the Brazilian port of Tubarao.

The pellet price hike in question is similar to the price increase agreed last week by Vale and BHP Billiton's joint venture Samarco Mineracao for direct-reduction pellet supply to the Middle East.

Due to the high customer demand from the Middle East, pellet prices have skyrocketed to record levels.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials