CVRD settles DR pellet prices with Arcelor and Nucor

Brazilian mining giant Companhia Vale do Rio Doce (CVRD) announced that it concluded negotiations for the 2006 direct reduction (DR) pellets price with Acindar, a subsidiary of Arcelor, and NU-Iron Unlimited (NU-iron), a subsidiary of Nucor Corporation. CVRD and Acindar agreed on a 3 percent price decrease for Tubarão DR pellets compared to 2005 price. At the same time, CVRD and NU-Iron agreed on a 3 percent price reduction for Tubarão and São Luís DR pellets.