Fortescue Metals is principally engaged in the operation of an integrated logistics chain starting with the mining of iron ore from the company's Cloudbreak mine site, the railing of product along the company's heavy haul rail line through to the loading of ships at the company's port facility... More
Wednesday, Sep 2510:59 AMVale sees iron ore prices holding up on Chinese demand
Wednesday, Sep 2510:59 AM| Comment!
- Global iron ore prices are expected to trade in a range just below current levels in Q4 and beyond, miners Vale (VALE -0.7%) and Fortescue Metals (FSUMF.PK, FSUGY.OB) say, reflecting optimism Chinese demand will stay resilient.
- A top Vale executive expects more moderate demand growth but no big decline in China, the world's top iron ore consumer; he predicts prices of $120-$130/metric ton in Q4.
- Vale's expansion plans to raise annual production capacity to 480M metric tons by 2018 from 306M this year remain intact, the exec also says.
Thursday, Apr 47:42 AMThe iron ore market will be move into surplus this year for the first time in a decade, says Morgan Stanley, and continue there until at least 2018. It's not rocket science - mine expansion projects announced during the boom years are coming online just at the time demand begins to slump. The question for miner investors: Is this already baked into their stock price? |Thursday, Apr 47:42 AM| 2 Comments
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