Brazil’s top iron ore miner, Vale decides to stick to quarterly pricing

Saturday, March 19,

Brazil’s top miner, Vale decides not to switch to monthly pricing of iron ore and sticks to quarterly pricing..*

Vale’s global marketing director Pedro Gutemberg said, “Vale is selling all contracted volumes on quarterly pricing. It has no intention to switch to monthly prices at this time. We believe the three-month period is good enough to avoid major gaps with actual market prices and, on the other hand, smooth volatility of the monthly period”

While other global miner like BHP Billiton is already selling some iron ore on monthly basis and would like its contract prices to move even closer to the daily market price, a spokesman for the company said.