Vale expects lower premium for high-grade iron ore amid recovering Chinese production

摘要

Brazil’s Vale expects the price premium for high-grade iron ore fines to decrease in the second quarter compared with those in the first, with production in China resuming. Brazilian 65% Fe iron ore has been fetching around $20 per tonne more than reference prices for 62% Fe material. This difference is mainly due to supply issues, which reduced inventories in China, the mining major’s executive director for ferrous and coal, Marcelo Spinelli, said on Wednesday April 29.