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Article: United States: Vale Sees Recovery in Ore, Metals Demand After Profit Slumps.(Financial report)
- Article from:
- TendersInfo
- Article date:
- July 30, 2009
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Byline: manish03
Vale SA, the world s biggest iron- ore producer, said demand for metals is starting to recover and it may boost output after second-quarter profit slumped.
Measures to counter the financial crisis have started to bear fruit, resulting in less risk aversion, a reduction of costs and the start of a recovery in demand and prices for minerals and metals, Vale said in a statement yesterday. The non-ferrous business has started to capture the benefits of better market fundamentals, the company said.
Vale slashed production of iron ore, which accounts for about two-thirds of sales, after some steelmakers cut output by half because of ...