ore1 May 2015 11:56
The world's biggest iron ore miner, Vale of Brazil, says it is willing to temporarily slow exports of the bulk commodity, in comments that Morgans analyst Adrian Prendergast believes could "trigger a strong rally in spot iron ore prices".
Vale's head of ferrous and strategy, Peter Poppinga, said overnight the company would not relent from spending close to $US17 billion ($21.5 billion) on iron ore expansion projects, but said it would be prepared to withhold about 30 million tonnes from its higher-cost mines if the weak market persisted.
Be good when the price of iron ore starts moving again also.