Vale - Running out of High Grades21 Sep 2018 13:24
Great find MM
So, so bullish for Zanaga grades and pellet products
Some more from the Reuters article.
(Note these comments are from the head of Vale, the world's largest iron ore miner, and given at a conference in Dalian, the main Chinese iron ore hub):
Vale, the world’s largest iron ore miner, said it was running out of immediate supplies of some of its top-grade products, with demand from China surging.
“Chinese companies are looking for more long-term contracts with us because of the quality,” Peter Poppinga, executive director for ferrous and coal at Vale, said on the sidelines of an industry conference in China.
“We are completely sold out in Carajas,” Poppinga said, referring to one of the company’s high-grade ores, with iron content of around 65 percent.
“We will allocate Carajas according to long-term contracts and according to some spot opportunities.”
https://uk.reuters.com/article/us-china-steel-ironore/going-long-chinese-steel-mills-chase-iron-ore-contracts-with-brazils-vale-idUKKCN1M10KV