CVRD and Erdemir negotiate 2007 iron ore prices

The Brazilian mining giant Companhia Vale do Rio Doce (CVRD) announced on January 17 that it is in talks with Turkish steel producer Erdemir regarding the 2007 iron ore and pellet prices. Accordingly, CVRD is in talks with Erdemir with a view to achieving a 9.5 percent fine iron ore price increase and a 5.28 percent pellet price hike in accordance with the world reference prices.