Bloomberg reported that Rio de Janeiro based iron ore producer, Vale SA (NYSE:VALE), which is the largest iron ore producer in the world, said that the recovery in Chinese manufacturing and construction will be quite beneficial.
As quoted in the market news:
Demand for steel is higher amid a “more favorable” environment in China, Ferreira told reporters in Brasilia today. Prices for iron ore, the main ingredient for making steel, will be less volatile this year, he said.
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