Vale Says Iron Ore Demand in China Recovering

Bloomberg reported that Rio de Janeiro based iron ore producer, Vale SA (NYSE:VALE), which is the largest iron ore producer in the world, said that the recovery in Chinese manufacturing and construction will be quite beneficial.

As quoted in the market news:

Demand for steel is higher amid a “more favorable” environment in China, Ferreira told reporters in Brasilia today. Prices for iron ore, the main ingredient for making steel, will be less volatile this year, he said.

Click here to read the full Bloomberg report.