Vale forecasts iron ore price at $50 per tonne in H2 2016

The average iron ore sales price in the global market will stay around the $50 per tonne mark in the second half of 2016, Vale executive director for ferrous minerals Peter Poppinga has said.

“If demand stays firm, which is what seems to be happening, [the] iron ore [price] will stay at $50 per tonne,” he told analysts during a conference call on Thursday July 28.
Metal Bulletin’s iron ore index for 62% Fe material reached $60.70 per tonne cfr Qingdao on July 28, down by 4.15% compared with the corresponding time last year, but up by 10.77% month-on-month.

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Ana Paula Camargo

July 28, 2016

19:55 GMT

São Paulo