Iron Ore Highlights

摘要

More iron ore contracts are finally beginning to be signed. Following last month's agreement in which Italy's Ilva agreed to purchase blast furnace pellets from Brazil's Vale at an 86.7 percent increase over the contract price of FY2007, Vale has now also increased the price of its direct reduction pellets (DR) to its customers in the Middle East and north Africa by 86.7 percent. While a big increase was expected, a rise of this magnitude took producers in that part of the world by surprise. The increase is the result of negotiations between Vale and Saudi Arabia's Sabic, Libya's Lisco, Qatar Steel Company and Egypt's Ezz Steel.