An 8,000-Mile Journey Spurs Vale Shift as Iron Outlook FadesBy and
Brazilian miner joins push to cut costs as China demand slows
Industry focusing on more efficiency rather than more output
For years, Brazil’s Vale SA fought with rival iron-ore producers in Australia to supply the fast-expanding steel industry in China by building more mines and boosting output. But slowing demand and prospects of a multiyear glut are changing the battle lines. Now, it’s all about protecting ever-narrowing profit margins.
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