Vale Changing Pricing Policy
In an attempt to offer a more flexible policy for the pricing of iron ore, Brazil mining company Vale (SA:VALE5) is pushing for a short term, quarterly pricing schedule which will reflect the market more closely than pricing of iron ore in the past.
Some watching the industry say it could increase iron ore prices by over 75 percent in the short term, but it could provide a lot more stability to the market in the long term.
Vale said once talks over over they'll give a more clear picture on where things stand concerning pricing.
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