CVRD and Japanese steelmakers agree pellet price

The Brazilian mining giant Companhia Vale do Rio Doce (CVRD) has concluded the pellet price negotiations for 2007 with a group of Japanese steelmakers, including Nippon Steel Corporation, JFE Steel Corporation, Sumitomo Metals, Kobe Steel and Nisshin Steel. As a result of the negotiations, Japanese steelmakers agreed on the previously established 5.28 percent price increase for 2007 pellet deliveries. As reported by SteelOrbis, CVRD previously concluded 2007 pellet price negotiations with Italian steelmakers Ilva and Lucchini. As a result of the talks, CVRD and the Italian companies agreed on a 5.28 percent increase for the 2007 pellet deliveries.