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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (59221)1/21/2005 8:46:30 AM
From: elmatador  Read Replies (1) of 74559
 
Brazil's Vale do Rio Doce Asks for 90% Iron-Ore Price Increase
Jan. 21 (Bloomberg) -- Cia. Vale do Rio Doce, the world's biggest iron-ore producer, is asking for price increases of as much as 90 percent in negotiations with steelmakers, said Fernando Thompson, the company's spokesman.

Such an increase would be more than four times last year's increase of almost 20 percent and more than double some of the estimates for this year from banks and steel industry organizations. In a Jan. 19 report, Merrill Lynch & Co. analysts Vicky Binnis and Mike Harrowell said ore prices should rise 40 percent starting April 1.

bloomberg.com
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