Under the deal, Vitol will supply about six million tons of iron ore over four years. This is Vitol’s first long-term financing agreement in the metals sector and shows the company’s commitment to its growing metal trading business.
Derek Wilson, Vitol’s Global Head of Steel Raw Materials, commented, “CSN is one of South America’s leading steel and iron ore producers. They have also been a valuable customer for Vitol’s metallurgical coal and coke products for a long time. This long-term deal gives us the chance to expand our relationship with CSN by using our financial, logistics, and commercial strength in the iron ore market. We aim to grow our presence in the steel production value chain.”
The agreement strengthens Vitol’s role in the iron ore supply chain and reinforces its strategic partnerships in South America.
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