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Biggest Iron Ore Miner Threatens to Flood Market If Prices Surge

  • Vale has 50 million tons up sleeve to balance market if needed
  • New CEO is prioritizing value over volume as earnings increase
Bloomberg business news
Fabio Schvartsman, chief executive officer at Vale SA, discusses iron ore and his outlook for growth in China.(Source: Bloomberg)
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Vale SA has a somber message for anyone betting on iron ore prices returning to the heady days of 2011.

The world’s biggest producer of the steel-making ingredient is prepared to unleash as much as 50 million metric tons of spare capacity to balance the market if prices get too high, Chief Executive Officer Fabio Schvartsman said.