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VALE Concludes Pellet Price Negotiation with ArcelorMittal
04/09/2008 - Companhia Vale do Rio Doce (VALE) has now concluded blast-furnace and direct-reduction pellets price negotiations for 2008 with ArcelorMittal.
Companhia Vale do Rio Doce (VALE, formerly CVRD), has now concluded blast-furnace and direct-reduction pellets price negotiations for 2008 with ArcelorMittal, the world’s largest steel producer.
As a result of these negotiations, the blast-furnace and direct-reduction pellet price, FOB Tubarão, increased by 86.67% relative to 2007. The new reference price per dry tonne Fe unit for blast-furnace pellets for 2008 is US$ 2.2020, and the reference price per dry tonne Fe unit for direct reduction pellets is US$ 2.4222.
VALE noted that it continues to support its commitment to customers through substantial investments to add new pellet capacity to meet their increasing demand, aiming to enhance its long-term customer relationships.
Companhia Vale do Rio Doce, Brazil, is the world's largest iron ore and pellets producer.
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