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Iron ore price rally to stop as Vale volumes recover - JFE president

Steel News - Published on Fri, 24 May 2019

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Reuters reported that the head of Japan's second-biggest steelmaker JFE Holdings Inc said on Thursday he does not expect iron ore prices to rise further as he expects that Vale's output in Brazil will likely recover. JFE Holdings President Koji Kakigi told "I expect iron ore prices won't keep rising, but instead, will likely stabilise at the current levels or even head lower going forward.”

He added that Vale's output in Brazil is expected to recover in some point.

He also said “JFE, which buys about 20% of its iron ore from Vale, has made some advanced purchases from other sources to make sure it gets adequate raw materials.”

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Posted By : Sanju Moirangthem on Fri, 24 May 2019
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