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Brazil's Vale expects moderate China Steel market growth in 2013
February 27, 2013 / 11:47 PM / 5 years ago

Brazil's Vale expects moderate China Steel market growth in 2013

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)

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