Bloomberg News

Vale ‘Carefully Analyzing’ China’s Iron-Ore Trading Platform

March 23, 2012

Vale SA (VALE3), the world’s biggest iron- ore producer, is “carefully analyzing” whether to sell the steelmaking ingredient through China’s new spot trading platform, according to an e-mailed statement.

Vale, based in Rio de Janeiro, is willing to take part “in any mechanism that would bring transparency, trust and acceptance for everyone involved,” the company’s press office said in the statement today.

Vale, together with its rivals Rio Tinto Group and BHP Billiton Ltd., will sign agreements to sell iron ore through a spot trading platform that will start operating in the first half of the year, Zhang Changfu, vice chairman and secretary general of the China Iron and Steel Association, said in an interview in Shanghai yesterday.

To contact the reporter on this story: Juan Pablo Spinetto in Rio de Janeiro at jspinetto@bloomberg.net

To contact the editor responsible for this story: Peter Millard at pmillard1@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus