Vale Sees Iron Ore Making Rebound

Bloomberg reported Vale SA (SAO:VALE3) expects the steel-making ingredient to rebound this year because current prices aren’t profitable for producers in China and other countries.

As quoted in the market news:

Iron-ore below $120 a metric ton is a “short-lived” situation, the company’s Investor Relations Director Roberto Castello Branco told reporters at an event in Rio de Janeiro today. Vale is not among the suppliers planning to reduce output because it has low production costs, he said.

Click here to read the full Bloomberg report.