Vale Negotiating Iron Ore Prices With Clients

Bloomberg reported Vale SA (SAO:VALE3) is negotiating with clients to cut contract prices.

As quoted in the market news:

Almost 80 percent of the company’s iron-ore sales are based on the current quarter’s price, compared with a previous system that used the period ending a month before the onset of a new quarter, Jose Carlos Martins, head of iron-ore and strategy for Vale, said today in London.

Click here to read the full Bloomberg report.