Vale turns iron ore price bearish

Friday, 26 August 2016

Brazilian mining giant Vale believes current iron ore prices of around US$60/t are not sustainable for the remainder of the year and that prices are expected to fall because of weakening demand from its main consumer, China.

That’s according to the company’s IR director André Figueiredo, who spoke to journalists at an event at São Paulo stock exchange Bovespa, newspaper Valor Econômico reported.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.