CVRD and Arcelor agree on iron ore contract

CVRD and Arcelor agree on iron ore contract

According to recent news in the market, world's leading steel producer Arcelor and Brazil's iron ore giant Companhia Vale do Rio Doce SA (CVRD) have recently signed a contract regarding supply of iron ore. In line with the agreement, CVRD will supply 20 million tons of lump and fine ores per annum to Arcelor until 2009. As previously reported by SteelOrbis, similar agreement was signed between CVRD and Anglo-Dutch steel maker Corus. However, the agreement signed with Arcelor is stated to be the biggest contract CVRD has ever signed in its history, regarding iron ore supply.