BEIJING – Brazil miner Vale expected 70-million tonnes of global iron-ore capacity to be shut down this year and another 30-million tonnes of capacity will also be "at risk", a senior company official said on Wednesday.
More Chinese capacity is at risk from low prices, João Mendes de Faria, the company's head of China told an industry conference, adding that domestic production capacity fell to 184-million tonnes in 2015 from 335-million tonnes in 2013.