Brazil: World’s Main Iron Ore Producer Raises Prices by 71.5%

Brazil’s Companhia Vale do Rio Doce (CVRD), the world’s largest iron ore producer, concluded the iron ore price negotiations for 2005 with Nippon Steel Corporation (NSC), the largest Japanese steel maker. The deal was announced yesterday.

As an outcome of these negotiations, iron ore prices for Carajás (SFCJ) and Southern System (SSF) fines, FOB Ponta da Madeira and Tubarão, respectively, increased by 71.5% relatively to 2004.


The magnitude of the price increase for 2005 reflects an unprecedented situation characterized by the disequilibria in the global metals and maritime freight markets, which led to substantial prices increases for these products and services during the last couple of years.


CVRD reinforces its long-term commitment with clients, investing a significant amount of resources, despite of rising investment costs, in the production and logistics of iron ore.


For 2005, CVRD capex budget allocated US$ 1.7 billion for investments in ferrous minerals.


Currently, CVRD is developing six projects for iron ore production capacity expansion, which will come on stream between 2005 and 2007.


The iron ore price settlement with a large and traditional customer such as NSC, with whom CVRD has a fifty-year old commercial relationship, is an evidence of the weight of the long-term view involved in these negotiations.


Companhia Vale do Rio Doce
http://www.cvrd.com.br/


PRNewswire

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  • Show Comments (9)

  • Jerry WidjAja

    I can be supply for iron ore from indonesia
    dear all,
    i’m jerry i representativ for indonesia iron ore marketer associate so anyone who need please email to me ajwijaya@gmail.com
    we have spec Fe 50-60-65%

    thx
    jerry

  • Guest

    PLEASE URGENT
    Dearest One,

    Good a thing to write you. I have a proposal for you,this however is not mandatory nor will I in any manner compel you to honour against your will.

    I am ms jenifer jacob 21years old and the only daughter of my late Mr. and Mrs. manis jacobs. My father was a highly reputable businness magnet-(a cocoa merchant) from Free Town in Siere Lone who operated in the capital of Ivory coast during his days.

    It is sad to say that he passed away mysteriously in one of his business trips abroad on 20th.march 2004.Though his sudden death was linked or rather suspected to have been masterminded by an uncle of mine who travelled with him at that time. But God knows the truth!

    My mother died when I was just 6 years old, and since then my father took me so special. Before his death on march 20 2004 he called the secretary who accompanied him to the hospital and told him that he has the sum of ten million,eight hundred thousand United State Dollars.(USD$10,800,000) left in a fixed deposit account in one of the banks in Abidjan, the capital of Ivory Coast.

    He further told him that he deposited the money in his name,and finally issued a written instruction to his lawyer whom he said is in possession of all the documents to this fund to release the documents to me.

    I am just 21 years old and a university undergraduate and really don’t know what to do.Now I want an account overseas where I can transfer this funds. This is because I have suffered a lot of set backs as a result of incessant political crisis here in Ivory coast.The death of my father actually brought sorrow to my life.
    Sir,I am in a sincere desire of your humble assistance in this regards.Your suggestions and ideas will be highly regarded.

    Now permit me to ask these few questions:-
    1. Can you honestly help me as your daughter or sister?
    2. Can I completely trust you?
    3. What percentage of the total amount in question
    will be good for you after the money is in your
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    Please,Consider this and get back to me as soon as possible.

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    Best regards
    jenifer

  • Guest

    biz intention of importing iron ores
    Dears,
    We intends to import large quantity of iron ores to China. Your quotation with specifications and measurementss are welcome.
    Best regards,
    David
    david_162162@hotmail.com

  • Guest

    reza mazandarani
    Dear Sir,
    We have an inquiry for Iron Ore 100,000 mt for 68% or 70% fe content.
    terms of payment is L/C cash at sight.
    prompt delivery
    prices : FOB and CFR Iranian southern ports
    B.RGDS,
    R.Mazandarani
    Immicco

  • Guest

    Brazilian Iron Ore 65.4%Fe
    We have a requirement for the Iron Ore 2-3million m.ton per month from Korea and China, upron receipt of price with terms and conditions we will send the LOI immdiately.
    email : royalcom@dreamwiz.com
    Regards,
    B.SAM
    Royal Recyclers

  • Guest

    iron ore
    dear sir,

    I have a requirement of iron ore please give me the details

    Thanks
    syed mahmood
    syedmahmood65@yahoo.com

  • Guest

    Iyke Iroanya, MD/CEO, Ik & Iyke Int\’l A
    I truely want to know the world price of Iron Ore with the following specifications: lump below10 mm, Fe 64%. I shall be very grateful to get the information through you.

    Regards.

    Iyke
    E-mail: iykeinternationalagltd@yahoo.co.uk

  • Guest

    price of a dry metric tone of ore iron
    i want to know it too,,,

  • Guest

    So if the price has increased by 71.4 % what are the current prices FOB Brazil? Everyone talks about the increase but no one seems to put a price what a dry metric tone unit is worth?

    Just wondering?

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