According to an insider from the steel industry, CVRD might offer to sell iron ore to China’s steelmakers at $160 per ton from July, an increase of 23 percent quarter-on-quarter.
Posco, South Korea’s largest steelmaker, announced in April that they were offered iron ore from CVRD at prices of between $100-105 per ton.
At present, the big three account for two thirds of the world’s iron ore market.
Sourced from www.capitalvue.com
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