Vale S.A. Moves 90% of its Iron Ore Sales to Quarterly Contracts

Brazil mining giant Vale S.A. (VALE) said on Thursday it had moved 90% of its iron sales volume to quarterly contracts, matching a move by Anglo-Australian miner BHP Billiton (BHP) and increasing pressure on Rio Tinto (RIO) to replace annual negotiations with more frequent and flexible adjustments to iron ore prices. In a statement the [...]