Vale CEO says crisis to worsen over 3-4 months

RIO DE JANEIRO, Oct 31 (Reuters) - The chief executive of Brazilian iron ore miner Vale (VALE5.SA), Roger Agnelli, said on Friday that he expected the global financial crisis to worsen in the coming three to four months.

"Some think that it could last two years, but I think that (market conditions will deteriorate) intensely in the next three to four months and we could see a recovery in the second quarter of 2009," Agnelli said.

Vale RIO.N, the world's largest iron ore miner, said on Friday it would cut its iron ore production by 10 percent to align itself with a fall in demand from the international steel industry. (Reporting by Denise Luna; Writing by Reese Ewing)