Vale sees Chinese iron imports rising slightly in Q4
2011-08-01 09:31:57 [Print]
Brazilian mining giant Vale said that it expects China's iron ore imports to stay steady in the third quarter of 2011 and rise slightly in the fourth quarter of 2011.
Mr Jose Carlos Martins director for marketing, sales and strategy at Vale said that "I see a stable situation in the third quarter, and there is some possibility for increase in the last quarter, that is what normally happens in the Chinese market."
Mr Guilherme Cavalcanti CFO of Vale said that the company's Sudbury nickel production facility in Canada will reach full capacity in the second half of 2011 following a smelter furnace accident in February 2011.
Vale is maintaining its 2011 iron production target of 310 million tonnes this year. Its average realized price for iron ore, which in the second quarter was lower than expected at USD 145.30 per tonne, will likely rise by around USD 7 per tonne in third quarter.
Mr Martins said that higher moisture in the iron ore, caused by rains, lowered the sale price of the product.
Mr Jose Carlos Martins director for marketing, sales and strategy at Vale said that "I see a stable situation in the third quarter, and there is some possibility for increase in the last quarter, that is what normally happens in the Chinese market."
Mr Guilherme Cavalcanti CFO of Vale said that the company's Sudbury nickel production facility in Canada will reach full capacity in the second half of 2011 following a smelter furnace accident in February 2011.
Vale is maintaining its 2011 iron production target of 310 million tonnes this year. Its average realized price for iron ore, which in the second quarter was lower than expected at USD 145.30 per tonne, will likely rise by around USD 7 per tonne in third quarter.
Mr Martins said that higher moisture in the iron ore, caused by rains, lowered the sale price of the product.
