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Iron ore prices will begin to recover in September, Vale's (VALE +0.6%) Murilo Ferreira...

Iron ore prices will begin to recover in September, Vale's (VALE +0.6%) Murilo Ferreira believes, citing inventories of the steel-making raw material in China falling to the equivalent of 20 days' usage from a level of 30 days in June. Spot prices of iron ore with 62% iron content for delivery into China slumped this week to $113 per metric ton, lowest since Dec. 2009.
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Comments (4)
  • Paulo Santos
    , contributor
    Comments (26495) | Send Message
     
    It's not very evident that the stocks are falling:

     

    http://bloom.bg/NG6SMa
    16 Aug 2012, 03:26 PM Reply Like
  • Materials_investor
    , contributor
    Comments (102) | Send Message
     
    Thanks for the link. Never knew you could check iron ore inventories. Vale is tied to China, and China is slowing down. I'm bearish on Vale until things get better globally. I stopped drinking the cool-aid management puts out, and sold my shares.
    17 Aug 2012, 10:04 PM Reply Like
  • Paulo Santos
    , contributor
    Comments (26495) | Send Message
     
    It seems it's already down to $111 per ton. Still ongoing.
    17 Aug 2012, 10:06 PM Reply Like
  • Davephd
    , contributor
    Comments (891) | Send Message
     
    Perhaps if you live in a country ruled by a socialist idiot long enough you begin to loose your mind?
    16 Aug 2012, 03:36 PM Reply Like
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