2023-10-28 07:34:00
RIO DE JANEIRO, Oct. 28 (Xinhua) — Brazilian mining company Vale, the world’s largest iron producer and exporter, said Friday it is optimistic regarding demand for products from China, its main market, and confident in Brazil’s ability to export better quality iron.
In a conference call with reporters, Vale management said it was confident that internal factors would help boost China’s economy, which, along with a decline in China’s iron ore supply, would impact positive in the iron ore segment.
The effects of the Chinese economy are “positive”, said Vale CEO Eduardo Bartolomeo, who highlighted the Chinese government’s efforts to boost the country’s economy.
Vale’s executive vice president for iron ore solutions, Marcello Spinelli, said the mining company had “a very optimistic view” of China “because of its turnaround capacity.”
In addition to the incentives, Vale managers consider that the Chinese manufacturing industry is transforming, driven by decarbonization.
According to Spinelli, products that need to be decarbonized will require the purchase of high-quality ore, the prices of which are higher, as “stronger demand” is seen with the emergence of a “new platform of factories ” needing this type of steel. END
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