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.
Brazilian miner Vale (VALE5.SA:Quote) expects iron ore demand in Japan to reach 90 percent of pre-crisis levels in the fourth quarter, the company’s global marketing director Pedro Gutemberg said.
“Japan iron ore demand was at almost 90 percent of pre-crisis levels before the earthquake and potentially after it recovers from the earthquake it will go back to that in the fourth quarter,” he told Reuters on the sidelines of a conference.
