Vale paying close attention to consequences of Coronavirus outbreak in China

The impact on Vale from the outbreak of the novel coronavirus (2019-nCoV) has been limited thus far, but the company is watching the situation closely in China.

“We are already booked with all our clients for the next 30 days,” Vale ferrous and coal executive director Marcelo Spinelli said on Friday February 21. “Our main concern is the possibility of cash restrictions among our clients.”

On the other hand, Vale noted that Chinese iron ore concentrators are facing restrictions due to the coronavirus, and this is leaving room for seaborne iron ore material to enter the market. The situation is also...

Published

Felipe Peroni

February 21, 2020

22:08 GMT

São Paulo