Vale Sees Beijing Olympics as Key for Iron Ore Turnaround
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Vale SA, the world’s second-largest iron ore producer, sees the Beijing Winter Olympics as the turning point for the steelmaking ingredient.
Iron ore futures have lost about half their value since mid-July as China limited steel output to contain pollution and power use. Some of those efforts were to ensure clean skies for the Olympics in February, according to Luciano Siani, Vale’s head of strategy and business transformation.