Vale directs Vargem Grande ore to BRBF over pellets

摘要

London—Brazilian iron ore miner Vale’s decision to restart partial operations at the Vargem Grande mining area in southern Brazil may support sales of blended Brazilian Blend Fines, or BRBF, in Asia rather than add supply into a weaker pellet market after Vale drew down its stockpiles in China, Malaysia and Oman, according to an analysis by S&P Global Platts Tuesday. Additional demand for pellets is currently low in Brazil and Europe on weaker steel prices and output, while Vale had to use stockpiled ores in Asia during the second quarter to meet demand for sales.