Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Glencore Buys Five Iron-Ore Cargoes From Ferrous Resources

Jan. 28 (Bloomberg) -- Glencore International Plc, the largest publicly traded commodities supplier, bought five iron-ore shipments from Brazil’s Ferrous Resources Ltd.

Cargoes totaling 750,000 metric tons of the steelmaking ingredient will be delivered starting next month, Belo Horizonte, Brazil-based Ferrous said in an e-mailed reply to questions today. The companies agreed on Platts iron-ore spot price for the shipments, it said, without specifying a specific value. Ferrous Chief Executive Officer Jayme Nicolato expects iron-ore prices to average $130 per deadweight ton this year, the company said in the same statement.

Glencore, based in Baar, Switzerland, traded 8.3 million metric tons of iron ore in the first half of 2012, an 186 percent increase from the previous year, the company said Aug. 21 in its interim report. It started the business in 2008.

To contact the reporter on this story: Juan Pablo Spinetto in Rio de Janeiro at jspinetto@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.