China Minmetals signs 20 million mt iron ore purchase agreement with Vale 

SHANGHAI, Nov 6 (SMM) – China Minmetals, the country's largest state-owned supplier of raw materials and the largest steel trading company, signed a 20 million mt iron ore purchase agreement with Brazilian mining giant Vale on Tuesday November 6.

The agreement was signed during the first-ever China International Import Expo (CIIE), which was held in Shanghai on November 5-10.

China is the world's biggest consumer of iron ore for steelmaking.

Separately during the CIIE, China Minmetals also signed a five-year agreement to purchase 2,400 mt of nickel nodular from Sumitomo Metal Mining.