Vale seals pellets price hike with Arcelor

摘要

Brazil's mining company Vale said on Tuesday it secured an 86.67 percent rise in iron ore pellet prices for 2008 with its client ArcelorMittal the world's biggest steel maker. Vale, the planet's largest iron ore producer, had earlier sealed similar price increases with Italian steelmaker llva and other clients in the Middle East. It had also negotiated a large 65-71 price increase for iron ore in 2008 with its customers around the world.