Vale pilots yuan futures-based iron ore sales

Brazilian miner Vale has diversified its iron ore sales to yuan-denominated futures contract pricing, which is the first time for global miners to use such pricing.

Vale’s Shanghai branch has signed a deal with the trading arm of Shandong Laigang Yongfeng Steel for a Qingdao-port-delivered cargo of Brazilian Blend fines to be priced against the May 2020 iron ore futures contract on China’s Dalian Commodity Exchange, the exchange said on Thursday November 14.



July Zhang

November 15, 2019

09:45 GMT