Brazil Vale sees 2013 iron ore demand coming from emerging markets
RIO DE JANEIRO
RIO DE JANEIRO Jan 29 (Reuters) - Demand for iron ore, the main revenue generator for Vale , will come from emerging markets, particularly China, the Brazilian miner's head of investor relations, Roberto Castello-Branco, said on Tuesday.
The company expects industrial production - an indication of demand for steel and its main component iron ore - to grow by about 7 percent in emerging markets in 2013 but remain flat in developed countries.
Castello-Branco added that iron ore stocks in China, the world's largest importer of ore, remained low.