Added capacity to hurt iron ore prices in 2d half: Vale

Apr 26, 2013 | 08:52 AM | Ana Paula Camargo

Tags  Vale, iron ore, iron ore prices, iron ore capacity, DRI, steel output, Jose Carlos Martins, Ana Paula Camargo

SÃO PAULO — The commissioning of additional iron ore production capacity is expected to put pressure on iron ore prices in the second half of 2013, José Carlos Martins, executive director for iron ore and strategy at Brazilian miner Vale SA, said April 25.

"About 30 (million) to 40 million tonnes (of additional iron ore capacity, mainly in Australia) are expected to come on-stream in the second half (of the year), pressuring prices until demand absorbs this excess," he said during an earnings conference call with analysts. ....

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