Vale (VALE -3.6%) sees “early signals” of recovery in China's economy, but "we are not going to...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE -3.6%) sees “early signals” of recovery in China's economy, but "we are not going to see the spectacular growth rates of 10%, 12% per year... the golden years are gone," Vale says. The top iron ore producer shipped ~44% of its iron ore and pellets to Chinese steelmakers in Q2, and iron ore prices have dropped to their lowest since Dec. 2009 - not an upbeat combo.