Vale sees iron ore market resilient despite lower prices in China

Vale

31/07/2026 17:28

RIO DE JANEIRO, July 31 (Reuters) - Brazilian miner Vale VALE3.SA, one of the world's largest iron ore producers, said on Friday that market fundamentals for the commodity remain resilient despite prices in China hitting a one-year low this week.
The situation in China is "more balanced than domestic indicators suggest," Vale's executive vice president for commercial and development, Rogerio Nogueira, told a call with analysts.
Demand is also improving outside China, he added.
Iron ore futures on the Dalian exchange fell for a sixth straight session Friday, dropping 1.31% to 716 yuan ($106.14) per metric ton.
Vale, which has low-cost production and makes high-grade iron ore, said that if prices fall further, a significant portion of less competitive global miners would exit the market.

 (Reporting by Marta Nogueira; Writing by Isabel Teles; Editing by Gabriel Araujo)
 ((isabel.teles@thomsonreuters.com; +55 11 91033 3602))