Vale Forecasts Iron Ore Prices to Rise Above $110 This Year

Reuters reported that Brazil’s Vale SA, which is the biggest iron ore producer in the world, sees the price of the metal to rise above $110 a ton this year on China’s strong demand.

As quoted in the market news:

We forecast $110 to $145 in terms of the average for this year,” said Murilo Ferreira, in a presentation at the Credit Suisse Asian Investment Conference in Hong Kong on Monday.

Click here to read the full Reuters report.