27-10-2016

Brazil’s Vale sees 50m tonnes of iron-ore entering 2017 market

Vale

Brazilian miner Vale expects 50-million tonnes of new iron-ore production to enter the global market in 2017, but it should be offset by falling production in China and increased steel demand, a company executive said at a conference in Rio de Janeiro.

Paulo Salles, Vale’s head of iron-ore marketing for South America, said that the 50-million tonnes would be composed of 28-million tonnes from Brazil, 18-million tonnes from Australia and 4-million tonnes from India.

Source: Reuters

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