Vale Aims to Go Down-Market on Iron Ore

Bloomberg12-04

(Bloomberg) -- Vale SA plans to offer more lower quality iron ore to adapt to the needs of a battered steel industry as it moves beyond being just a supplier of high-grade steelmaking material. Chief ...

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Vale is the world’s second-largest supplier of iron ore, after Rio Tinto Group.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4566":"资本集团","LU0572108347.SGD":"Blackrock Latin American A2 SGD-H","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","LU0531970944.HKD":"HSBC GIF BRIC EQUITY \"AC\" (HKD) ACC","LU0265266980.USD":"法巴巴西股票基金","VALE":"淡水河谷","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","LU0072463663.USD":"Blackrock Latin American A2 USD","LU0075056555.USD":"贝莱德世界矿业基金A2","LU0788109048.HKD":"BGF LATIN AMERICAN \"A2\" (HKDHGD) ACC","BK4548":"巴美列捷福持仓","IE00B1B80R65.USD":"柏瑞拉丁美洲股票A","BK4006":"钢铁","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","LU0265267285.USD":"BNP PARIBAS BRAZIL EQUITY \"C\" (USD) INC","LU0086394185.USD":"SCHRODER ISF LATIN AMERICAN \"A\" (USD) INC AV","LU0256859116.SGD":"施罗德拉丁美洲A Acc SGD","BK4588":"碎股","LU0106259046.USD":"施罗德拉丁美洲基金","BK4533":"AQR资本管理(全球第二大对冲基金)"},"translate_title":"淡水河谷计划进军铁矿石市场","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VALE":0.9},"content_text":"(Bloomberg) -- Vale SA plans to offer more lower quality iron ore to adapt to the needs of a battered steel industry as it moves beyond being just a supplier of high-grade steelmaking material.\nChief Executive Officer Gustavo Pimenta laid the groundwork for his strategy Tuesday at an investors event in New York, arguing that the Rio de Janeiro-based company needs to adapt to current market conditions by becoming a more flexible supplier.\n“Although Vale is perceived as the highest quality iron ore player we have a lot of flexibility to operate,” the new CEO told reporters. “We need to be successful even when margins are not there and clients say ‘I want cheaper products’.”\nPimenta’s strategy deviates from his predecessor, Eduardo Bartolomeo, who sought to establish Vale as the main supplier of high-grade iron ore that customers needed to make steel with fewer emissions. Vale is the world’s second-largest supplier of iron ore, after Rio Tinto Group.\nVale’s top executive said steel mills are navigating a challenging moment and this should make the industry’s journey away from reducing carbon emissions longer than expected. And that means the industry isn’t always paying the premium required to buy Vale’s high-grade ore.\nPimenta, who took the helm in October, told investors he’s focused in regaining competitiveness and driving Vale costs down. Vale aims to keep iron ore output little changed in the next year as market concerns over a supply buildup restrain prices of the steelmaking staple. The company also trimmed its longer-term forecasts for copper and nickel production.\n“I think it’s a more realistic plan,” Pimenta said. “We want to make sure that this new cycle starts with the right foot and that we deliver consistently everything we show to the market in my administration.”\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488555972"}