Brazilian mining giant Companhia Vale do Rio Doce (CVRD) has concluded its iron ore and pellet price negotiations for 2007 with Arcelor Mittal, the world's largest steelmaker.
As a result of these negotiations, CVRD and Arcelor Mittal have agreed on a 9.5 percent increase for iron ore fine and lump prices for 2007, as compared to 2006.
With regard to prices for blast furnace and direct reduction pellets, the parties have agreed on a 5.28 percent increase for 2007.