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 December 21, 2006
Baosteel and CVRD Settle Benchmark Iron Ore Prices for 2007
On 21st December 2006, Baosteel and CVRD, the largest iron ore producer of the world, reached agreement on international benchmark iron ore prices for 2007.
As a result, CVRD iron ore prices for both Northern System fines and Southern System fines increase respectively by 9.5% relatively to the 2006 reference prices.
The new reference prices for 2007, on metric ton basis, are US $ 0.7320 per fe unit for Carajás Fines and US $ 0.7211 per fe unit for standard fines.
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