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Vale Says Iron Ore Stabilized After Hitting ‘Rock Bottom’
Nov. 08, 2011 01:54PM PST
Base Metals Investing Bloomberg reported Vale SA (NYSE:VALE) said prices for iron ore have stabilized and are recovering from “rock bottom” levels earlier this year.
Bloomberg reported Vale SA (NYSE:VALE) said prices for iron ore have stabilized and are recovering from “rock bottom” levels earlier this year.
As quoted in the market news:
Lower-than-expected production and strong demand from China, India and South America will boost demand for iron ore in the coming years, Paulo de Freitas Nogueira, a sales-planning manager at the Rio de Janeiro-based company, said today.
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