Salzgitter Rejects Iron Ore ‘Blind Date’ Pricing, FTD Reports
Salzgitter AG (SZG), Germany’s second- biggest steelmaker, opposes a new pricing model for iron ore implemented by Vale SA, Financial Times Deutschland reported, citing Chief Executive Officer Heinz Joerg Fuhrmann.
The model, based on setting the price for iron ore after delivery, “is like a blind date with the supplier,” as steel makers agree with their customers on prices beforehand, the newspaper cited Fuhrmann as saying.
Stefan Nicola in Berlin at +49-30-70010-6246 or email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org