Japanese Steelmakers led by Nippon Steel Corp. agreed Monday to a 65 percent increase in annual iron ore prices, a steel company official said, setting a global benchmark for prices of the raw material used in steelmaking.
The increase will apply for the 12 months from April 1 after Tokyo-based Nippon Steel, Japan’s biggest mill, settled an accord with Brazil’s Cia. Vale do Rio Doce, or CVRD, said the official, who declined to be named because the talks are confidential.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.