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Stock impact report

Mining Giant Vale Says China Can't Control the Price of Iron Ore [Financial Post (Toronto, Ontario, Canada)]

VALE S.A. American Depositary Shares Each Representing one common share (VALE) 
Last vale s.a. american depositary shares each representing one common share earnings: 4/29 04:02 pm Check Earnings Report
US:NYSE Investor Relations: vale.com/en/investors/pages/default.aspx
Company Research Source: Financial Post
Author of the article: (Bloomberg) — China may be the world's biggest buyer of iron ore, but even that powerful position doesn't mean that Beijing can succeed in dictating prices for the steelmaking ingredient, said the head of No. 2 producer Vale SA. The comments by Vale Chief Executive Officer Eduardo Bartolomeo come as China has appeared to ramp up its decades-long struggle to wrest more power over the iron ore market from Vale and its two Australian rivals, BHP Group and Rio Tinto Group, which together dominate global production. Article content Article content A new centralized iron buyer, created last year to make purchases for the nation's massive steel industry, has in recent weeks criticized iron ore prices as too high, and called for an improved pricing system. Separately, China's top economic planning body has intensified a campaign seeking to cool a market rally this year. But Vale is confident that prices will continue to be set by the balance between supply Show less Read more
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