On March 30, Gordon Moffat, Director General of Eurofer, the European Confederation of Iron and Steel Industries, balked at the ongoing price increase announcements by Vale, Rio Tinto, and BHP Billion. "Already the prices increases of 80-100 percent demanded by iron ore producers do not reflect the realities of the steel market and cannot be justified by demand conditions for iron ore" said Moffat.
Vale, however, is fighting back, and has responded by suggesting the European Commission investigate Eurofer, instead. In a press release, Vale stated it has notified the European Commission about their concerns that Eurofer members themselves may have breached certain competition rules.
The iron ore producer further denies any and all allegations surrounding infringement on competition rules while in pricing negotiations with European steelmakers, and maintains they are in full compliance with all legal and contractual obligations.