CVRD agrees 2007 pellet prices with Lucchini

The Brazilian mining giant Companhia Vale do Rio Doce (CVRD) announced on Friday, January 12, that it has concluded a price deal on iron ore pellets for 2007 with Lucchini SpA. - Italian subsidiary of the Russian steel producer Severstal. According to the agreement, Lucchini agreed on the previously established 5.28 percent price increase for 2007 iron ore pellet deliveries. As SteelOrbis reported earlier, CVRD concluded 2007 iron ore price negotiations with another Italian steelmaker Ilva in December 2006. As a result of the negotiations, CVRD and Ilva agreed on a 9.5 percent rise for the 2007 iron ore price and on a 5.28 percent increase for the 2007 iron ore pellets price.