Vale sets iron-ore price

摘要

THE price of steel is set to rise, following agreements by some of the world's biggest steelmakers to pay the world's largest iron-ore producer, Cia Vale do Rio Doce SA (Vale), up to 71 percent more for their iron ore. The deals were signed with Japan's Nippon Steel and JFE Steel Corp, South Korea's Posco, Germany's Thyssen Krupp Steel and Italy's largest steelmaker, Ilva SpA. Vale said prices for iron-ore fines produced at its Southern System mines in the Brazilian states of Minas Gerais and Rio de Janeiro would increase by 65 percent on the previous year, while the the company's Carajas mine in the southeast of Para state would command a 71percent increase.