Accords Set Stage for Iron-Ore Price Surge.

The article reports on a price increase that could benefit steelmakers who have access to significant iron-ore supplies such as those based in North America which has abundant reserves. It mentions Brazil's Cia. Vale do Rio Doce which won a 65% price increase for a key steelmaking ingredient from Japanese and South Korean producers. According to the article, such increase shows the heft global mining companies enjoy despite of a boom in commodity prices caused by fast global growth.