Iron ore output from Vale slid 4.6% in fourth quarter
Vale reported an output of 85.3 million metric tons in the three months ended in December.
World number three supplier India’s iron ore exports and prices could be hit by quality issues on $2.2bn of shipments raised by China, where India sends almost all its exports, Reuters reported on Thursday.
During the first four months of 2011, over a third of India’s exports to the Chinese province of Jiangsu were substandard, China’s General Administration of Quality, Supervision, Inspection and Quarantine (AQSIQ) said in a notice posted on its website (www.aqsiq.gov.cn).
“We should check the quality of ore before shipping. It is a serious issue. It may affect India’s exports (and) price realisation,” Basant Poddar, vice-president, Federation of Indian Mineral Industries told Reuters.
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