Nippon Steel and CVRD Reach Agreement on FY2005 Price of Itabira and Carajas Fine Ore
2005/02/22
Nippon Steel Corporation (President: MIMURA Akio) and Companhia Vale do Rio Doce (President: Roger Agnelli， Head Office in Rio de Janeiro， Brazil) have reached agreement on the FY2005 (April 1， 2005 - March 31， 2006) FOB prices of Itabira fine ore and Carajas fine ore with +71.5% price increase from the previous year.
【Price/Fe Unit】（US￠/DMTU）
・Itabira Fine Ore
FY2004: ￠32.27 ， FY2005: ￠55.34 (+71.5％，+￠23.07)
・Carajas Fine OreCarajas Fine Ore
FY2004: ￠32.76 ， FY2005: ￠56.18 (+71.5％，+￠23.42)
【Price/Ton】（US＄/DMT，Fe 66.5％ base）
・Itabira Fine Ore
FY2004: $21.46 ， FY2005: $36.80 (+71.5％，+$15.34)
・Carajas Fine Ore
FY2004: $21.79 ， FY2005: $37.36 (+71.5％，+$15.57)
Negotiations with Hamersley and BHPB from Australia will be held from today. Based on the agreement above， Nippon Steel will continue to engage in negotiations with a view to settling iron ore price， including lumpy ore price.
