Iron ore majors ramp up supply even as China faces challenges
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
NEW YORK, Dec 6 (Reuters) – Brazilian miner Vale’s chief executive said on Wednesday he does not expect iron ore prices to be much lower next year compared with 2017.
Speaking at an investors’ event in New York, Fabio Schvartsman also said the company would do everything to resume operations as soon as possible at the Samarco mine, a joint venture with BHP Billiton that has been closed since a tailings dam collapsed in 2015, killing 19 people.
(Reporting by Christian Plumb; Editing by Susan Thomas)