Vale Iron Ore Head Sees Asia Driving Steel

Reuters Canada reported iron ore will continue to sell in the range of $120 to $180 per tonne in the near term while China constrains its economy.

As quoted in the market news:

But the market for the key ingredient for steel manufacture is expected to grow as Asia builds up its infrastructure and Western steelmakers stagnate, Jose Carlos Martins, Vale’s executive director for iron ore and strategy told Reuters.

Click here to read the full Reuters Canada report.