UPDATE 2-Iron stocks up on CVRD deal, steelmakers sceptical

Newswire

(Adds industry comment, analysts, changes dateline) By Nick Trevethan and Edwina Gibbs LONDON/TOKYO, Feb 22 (Reuters) - A deal by Japan's Nippon Steel Corp. to pay Brazil's CVRD 71.5 percent more for iron ore in 2005 boosted iron-mining stocks on Tuesday, but steelmakers were reluctant to accept it as a new benchmark. Shares in CVRD rose more than six percent to 74.20 reais in Sao Paulo by 1530 GMT on the deal. Shares of two UK-listed miners with iron-ore interests also rose sharply in ...

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