Vale Increases 2008 Iron-Ore Price to China?

Sept. 3 (Bloomberg) — Cia. Vale do Rio Doce raised iron ore prices for Chinese customers by about 20 percentage points, Steel Business Briefing said, citing an e-mail from the Brazilian miner.

So-called South System iron-ore fines are now 86.4 percent more expensive than in 2007, compared with a 65 percent increase agreed to earlier this year, SBB said today in a story that was distributed by e-mail. Carajas fines are 92.4 percent higher, compared with 71 percent previously, the industry publication said.

Australian iron ore producers achieved an average 2008 price increase of 85 percent, SBB said.

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