CVRD and ILVA agree on iron ore and pellet prices

Brazilian mining giant Companhia Vale do Rio Doce (CVRD) has concluded its iron ore and pellet price negotiations for 2007 with Italian steelmaker Ilva S.p.A (ILVA). As a result of these negotiations, CVRD and ILVA have agreed on a 9.5 percent increase for iron ore prices for 2007, as compared to 2006. With regard to pellet prices, the parties have agreed on a 5.28 percent increase for 2007.