Iron ore price, page-11525

Hi Wolfman, the Paraopeba and Vargem complexes were medium grade high silica products so they weren’t in direct competition with FMGs products but we still have seen significant tightening of discounts.

Less high grade products available for exports, yes it should push up the price due to less supply but supply issues are being felt right across all grade types at the moment (Vale, RIO and BHP). All grade types are benefiting.

Also, issues with the quality of Vale’s products would not in any way help repairing their brand. It doesn’t matter what the industry is, if management are concerned that their quality may be compromised after a major OHS issue being breached, customers will look to substitutes....