Vale Sees Iron-Ore Rebound as China Producers Cut Supply

Vale SA, the world’s largest iron-ore producer, expects the steel-making ingredient to rebound this year because current prices aren’t profitable for producers in China and other countries.

Iron-ore below $120 a metric ton is a “short-lived” situation, the company’s Investor Relations Director Roberto Castello Branco told reporters at an event in Rio de Janeiro today. Vale is not among the suppliers planning to reduce output because it has low production costs, he said.