CVRD and Nippon deal new iron ore price agreement
The second price deal among worldwide producers and consumers of
iron ore has been concluded between Brazilian
iron ore producer Companhia
Vale do Rio Doce SA (CVRD) and
Japan's largest steel maker Nippon Steel.
The new agreement's period is Japanese fiscal year of 1 April 2003-31 March 2004.
Nippon has dealed to increase the per iron unit for Southern System Fines to $27.64 by 9% and per iron unit for Southern System Nodular Ore to $29.32 by 8.9%. Similarly European steel maker Arcelor dealed to increase around 9%.