CVRD expects an increase in iron ore output
According to recent news in the sector, Brazilian steelmaker Companhia
Vale do Rio Doce (CVRD) which produced 164 million tons of
iron ore last year, forecasts this rate to reach up to 170 million tons by the end of 2003.
CVRD, the world's biggest
iron ore exporter, expects an increase of approximately 4% in its
iron ore output due to growing demand of
iron ore.
The company shipped 46.62 million tons of
iron ore in the third quarter of 2003 which corresponds to an increase of 12.3% from the second quarter of 2003 and 10% from the third quarter of 2002.