https://www.miningweekly.com

Vale says recent dip in global steel prices is temporary

6th December 2018

By: Reuters

  

Font size: - +

LONDON – Brazil's Vale, the world's largest iron ore miner, said on Thursday a recent dip in global steel prices is temporary due to overproduction in China ahead of winter output cuts.

Vale CEO Fabio Schvartsman told investors in London that global capacity utilisation in the steel sector has risen to 76% this year from 73% last year, indicating excess capacity in the sector is shrinking, giving steelmakers pricing power.

He said capacity utilisation in China's steel sector is at 85 percent, indicating a healthy market poised to see prices recover next year.

China produces and consumes about half the world's steel.

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION