Vale says iron market ‘can only get better’ amid tight supply

The iron ore market has stabilized with impacts of China’s Covid-19 lockdowns and real-estate woes already priced in, according to a top producer of the steelmaking ingredient.

China remains an important buyer of metals, though a global transition from fossil fuels to cleaner energy sources will become the main driving force for business decisions in the mining industry for the next 20 years, Siani said. That shift will prompt China steelmakers to demand higher iron content. Vale aims to preserve its market share by becoming a top supplier of high-grade iron ore products, which today fetch a premium of around $85 a ton to lower-grade varieties.

The Rio de Janeiro-based company also has ambitions to become a bigger player in the base metals that underpin the energy transition, moving beyond its focus on nickel and copper, Siani said. Vale wants to expand in key metals needed for electric vehicles and the renewable energy industry, and would consider acquisitions.

“Lithium is an interesting market, but I’d say at the moment the companies’ valuations have passed the point where it would be attractive to make a move,” Siani said.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Amazon to Fund Raises for Delivery Drivers Amid Tight Labor MarketThe e-commerce giant will invest more than $300 million in increased wages and provide a 401(k) plan for drivers as it tries to ensure it has sufficient staffing for the peak holiday season. The drivers should unionize. And later lay off everybody ?
출처: WSJ - 🏆 98. / 63 더 많은 것을 읽으십시오 »

Coinbase Says Trades Are Failing Amid Massive Market CrashIt is not uncommon for major cryptocurrency exchanges to experience technical issues during periods of extreme volatility How come no one is talking about it
출처: Utoday_en - 🏆 295. / 63 더 많은 것을 읽으십시오 »