Vale SA (NYSE: VALE) plans to offer more lower quality iron ore to adapt to the needs of a struggling steel industry. CEO Gustavo Pimenta outlined this strategy at an investor event in New York, emphasizing the company's flexibility to meet market demands for cheaper products despite its reputation for high-quality iron ore. This strategy marks a shift from his predecessor's focus on high-grade iron ore.
Vale, the world's second-largest iron ore supplier, aims to maintain competitiveness and reduce costs amidst challenging market conditions
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