RIO DE JANEIRO Feb 27 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)