Vale Says Iron Ore Stabilized After Hitting ‘Rock Bottom’

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.

Click here to read the full Bloomberg report.