Steel cuts force Vale to slash production of iron ore.....
In a statement sent to Steel Business Briefing, Vale says it is responding to “a strong negative impact” on the steel industry, which it estimates is cutting production by about 20% of global output, slicing iron ore demand.
The company did not say whether this includes its reduction in shipments to China caused by the dispute over pricing.
As a result of the slowdown in steelmaking Vale – the world’s largest iron ore producer with some 238m tonnes in the first nine months of 2008 – will reduce output by the equivalent of 30m tonnes/year. This will involve closing some mines in Brazil’s Minas Gerais state with effect from 1 November.
- Forums
- ASX - By Stock
- FMG
- world ore in oversupply
world ore in oversupply
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
(20min delay)
|
|||||
Last
$19.73 |
Change
0.760(4.01%) |
Mkt cap ! $60.74B |
Open | High | Low | Value | Volume |
$19.11 | $19.90 | $19.11 | $207.2M | 10.61M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 55717 | $19.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.76 | 15000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 55717 | 19.730 |
1 | 48855 | 19.710 |
2 | 20932 | 19.700 |
2 | 27174 | 19.690 |
1 | 1000 | 19.680 |
Price($) | Vol. | No. |
---|---|---|
19.760 | 15000 | 1 |
19.790 | 3715 | 1 |
19.800 | 2400 | 3 |
19.840 | 4500 | 2 |
19.850 | 18050 | 2 |
Last trade - 16.10pm 10/10/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |
The Watchlist
EL8
ELEVATE URANIUM LTD
Murray Hill, MD & CEO
Murray Hill
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online