Italian steel companies agree to new iron ore prices
According to recent market news, Italian steel producers Ilva SpA and Lucchini SpA agreed to a price hike of 71.5% for low grade iron ore from Brazilian mining giant Companhia Vale do Rio Doce (CVRD). CVRD and Anglo-Australian Rio Tinto, the world's largest iron ore suppliers signed similar agreements for the 2005 fiscal year with Japan's Nippon Steel Corp (NSC), Luxembourg-based Arcelor and China's Shanghai Baosteel. Moreover, Ilva and Lucchini agreed to a price increase of between 86.4-86.7% for high-quality iron ore produced by CVRD.Italian steel companies agree to new iron ore prices
Tags: Iron Ore Raw Mat Luxembourg Japan Macau Hong Kong China Far East Europe Vale Rio Tinto Ilva Baosteel
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