Vale’s Red-Tape Headache Is Boon for Sagging Iron Ore Market
- Brazilian producer lowered its target for ore output capacity
- Delays are centered on rich iron deposits in country’s north
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Brazilian red tape may keep the global iron ore market tighter than expected after Vale SA lowered its forecast for production capacity because of sluggish permitting.
While capacity isn’t the same as actual production, the slower-than-expected expansion will give Vale less scope to increase supply over the coming years.