Vale and ThyssenKrupp agree on BF pellet price

Rio de Janeiro-based world's biggest iron ore producer Vale (Companhia Vale do Rio Doce) announced last Friday that it reached an agreement on blast furnace (BF) pellet prices with the biggest German steelmaker ThyssenKrupp Steel (ThyssenKrupp), on which the two sides had been negotiating for a while.
 
According to the agreement between the two companies, Vale's 2008 price for blast furnace pellets supplied to ThyssenKrupp, FOB Tubarao, has soared by 86.67 percent in comparison to 2007. As a result, the 2008 reference price per dry metric ton Fe unit for blast furnace pellets is US$2.2020.