Brazil's Vale expects moderate China Steel market growth in 2013
RIO DE JANEIRO
RIO DE JANEIRO Feb 27 (Reuters) - Brazilian mining company Vale SA expects moderate growth in the Chinese steel market in 2013, a situation that should keep average prices close to current levels, a company executive said Wednesday.
Vale, the world's largest producer of iron ore, expects prices to remain volatile, Jose Carlos Martins, the head of ferrous metals at the Rio de Janeiro-based company, told reporters on a conference call.
Prices .IO62-CNI=SI could rise moderately from current levels of about $152 a tonne in the first half and fall in the second half, he said.
While declining to predict a price, Martins said talk of iron ore averaging about $130 in 2013 sounded reasonable. (Reporting by Jeb Blount; Editing by Gary Hill)