Vale Open to Different Iron Ore Pricing

Reuters reported Vale (NYSE:VALE,SAO:VALE5) is open to discussing different iron ore pricing systems with its clients, as prices have tumbled.

As quoted in the market news,

Vale has told Chinese steelmakers it will give them options to buy the raw material cheaper, sources told Reuters last week, as spot prices for iron ore have dropped below the quarterly contract system created last year.

Click here to read the full Reuters report.