It has been reported that the price of iron ore exported to Valesa by Brazil Valesa has dropped by nearly 30% in the past month, from the US$172.60 per ton price quoted at the beginning of the month to the current price of US$120 per ton. The main reason for the sharp fall in iron ore prices was the decline in production capacity of Chinese iron and steel enterprises, which led to a decrease in iron ore demand. In addition, some restrictive measures have also affected Brazil’s export of iron ore to China.
Vale is currently the world’s largest supplier of iron ore. The company's chief executive, josecarlosmartins, revealed to analysts on a conference call on Thursday that Vale’s exports to the Chinese market Iron ore port quotes have dropped back to 120 US dollars / ton, compared to the price of the earlier this month fell 30%. However, he also said that iron ore prices are expected to rebound in the middle of this month. In addition, he also revealed that Vale will significantly shorten the bargaining cycle, and the company tends to use the spot market price to sign contracts with buyers.
Carlos said: "Now China's demand for iron ore has increased again. At present, our monthly shipments to China can increase 23 ships compared with the same period last year, an increase of about 15%." He said : "About 50.6 million tons per month is not important compared to China's annual import volume of up to 1 billion tons."
Carlos said that in the past few years, Vale exported 120.13 million tons of iron ore to China each year, accounting for only 1213% of China's total imports. He said that at present, China's imports of iron ore are mainly from Australia, which is lower than Brazil's China's import of iron ore from Australia.
Vale is currently the world’s largest supplier of iron ore. The company's chief executive, josecarlosmartins, revealed to analysts on a conference call on Thursday that Vale’s exports to the Chinese market Iron ore port quotes have dropped back to 120 US dollars / ton, compared to the price of the earlier this month fell 30%. However, he also said that iron ore prices are expected to rebound in the middle of this month. In addition, he also revealed that Vale will significantly shorten the bargaining cycle, and the company tends to use the spot market price to sign contracts with buyers.
Carlos said: "Now China's demand for iron ore has increased again. At present, our monthly shipments to China can increase 23 ships compared with the same period last year, an increase of about 15%." He said : "About 50.6 million tons per month is not important compared to China's annual import volume of up to 1 billion tons."
Carlos said that in the past few years, Vale exported 120.13 million tons of iron ore to China each year, accounting for only 1213% of China's total imports. He said that at present, China's imports of iron ore are mainly from Australia, which is lower than Brazil's China's import of iron ore from Australia.
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