CVRD, Nippon Steel agree to 3.2% price rise

BRAZILIAN iron ore giant CVRD has followed Australia's BHP and Rio Tinto in announcing it has reached price agreements with Japanese steel makers.

CVRD, the world's largest iron ore producer, said it has agreed to a price rise of 3.2% with Nippon Steel for its lump ore after earlier agreeing to increases of up to 4.

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