Yahoo! News – Brazil CVRD Signs 20 Million Tons-Per-Year Contract With Arcelor: “The company is also increasingly locking in future sales by signing contracts with big buyers. Earlier this week, CVRD signed a contract with the Corus Group to deliver between five and ten million tons of iron ore annually over the next ten years.
In late 2003, CVRD signed contracts with roughly eight new clients in China, each stipulating the purchase of about two to four million tons of iron ore annually over the next three to 10 years. The Brazilian miner already had a contract to sell ore to China’s biggest steelmaker, Shanghai Baosteel Group, and sold a total of 10.2 million tons of iron ore to Chinese steelmakers in the first half of last year. “