| Brazilian mining
company Vale 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)."
Reuters |
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