From FMG comes another large “wow”:
Strange bedfellows given they’re fighting it out for marginal cost producer status in the long run. But then, keep your friends close and your enemies closer! I assume they’ll look to blend material in one of Vale’s Asian hubs.
In today’s environment this will no doubt lend FMG a large hand today. It offers potential to collaborate on controlling supply at the margin, especially if Vale does plough into an FMG ownership stake.
