Tue Jun 14, 2011 8:02am GMT
GENEVA, June 14 (Reuters) - Brazilian mining company Vale (VALE5.SA: Quote) will not move away from its quarterly iron ore pricing formula, Vale's global marketing director Pedro Gutemberg said.
But the miner, the world's biggest producer of iron ore, is proposing a new pellet premium pricing formula, Gutemberg told Reuters on the sidelines of a conference in Geneva.
Currently, the iron ore pellet premium is fully negotiated between customers and producers every quarter.
"We are trying to convince the clients to accept that we have an iron ore content price, as we do with fines, and then we have a conversion premium," Gutemberg said.
"It is a dual concept and we want to separate (the two components of the price)."
(Reporting by Silvia Antonioli; editing by Sue Thomas,By Thomson Reuters)
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment