Usiminas to Cancel Iron Ore Shipment Contract

Brazilian steelmaker Usiminas intends to cancel its iron ore shipment contract with the Sudeste Port, a private terminal near Rio de Janeiro, the port said on Friday.

The statement did not say how much Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, had agreed to export through the terminal nor did it give a reason for the desire to cancel the contract.

Usiminas declined to comment on the news.