Vale may reduce iron ore prices in October

Monday, 30 August 2010 10:50:50 (GMT+3)   |  
Brazilian mining giant Vale, the world's biggest iron ore producer, said last Friday that it might reduce its iron ore prices by 10 percent this October, from $150/mt to $135/mt.
 
The decision, made as part of a quarterly revision of market prices, comes after a fall in demand in China, the top global customer.
 
Such a reduction would also slightly reverse a 170 percent increase in iron ore prices seen this year in response to strong for raw material. Vale's announcement has been reflected in spot prices for iron ore in China.
 
Nevertheless, Vale's revenues from sales of iron ore this year should still be more than double last year's figure, reaching around $30 billion (AU$33.89 billion).

Similar articles

Vale updates financial estimates for its iron ore business based on Middle East conflict model

13 May | Steel News

Vale net profit jumps 39 percent in Q1 2026 on higher iron ore volumes and prices

29 Apr | Steel News

Vale iron ore and pellets production increase on yearly basis

17 Apr | Steel News

Vale announces first transoceanic ethanol powered vessel for 2029 iron ore delivery

09 Apr | Steel News

Brazilian high-grade iron ore prices slip in trade following China holiday

07 Apr | Scrap & Raw Materials

Brazilian miner Vale expands lifespan of Itabira iron ore mine

01 Apr | Steel News

Brazilian high-grade iron ore price posts small decline week-on-week

31 Mar | Scrap & Raw Materials

Brazilian high-grade iron ore price posts small decline week-on-week

24 Mar | Scrap & Raw Materials

Brazilian high-grade iron ore prices up $5/metric ton amid reports of scarcity

11 Mar | Scrap & Raw Materials

Vale achieves production record in 2025, suspends two mines in Minas Gerais

28 Jan | Steel News

Marketplace Offers

DRI
Dimensions:  9 - 16 mm
SUEZ STEEL CO.
Lumps
Dimensions:  0 mm
ATAY COMPANY
Lumps
Dimensions:  0 mm
Wuchan zhongda international group