30
Apr
01:00
Vale posts first quarter loss on lower iron ore prices, currency depreciation
Brazil’s Vale has posted a net loss from continuing operations of $3.2 billion in the first quarter of 2015. This follows the company’s confirmation last week of record Q1 iron ore production of 74.5 million tonnes (see Kallanish 23 April).
The well-publicised production drive by the big three iron ore miners has been accompanied by a free-fall in the price of seaborne fines over the last 6 months. This has certainly contributed to the first quar…
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Anonymous
Very good overview of the weekly steel market.
Anonymous