ADVFN - Advanced Financial Network.
HOME» NYSE » C » RIO Stock Price » RIO Stock News

Companhia Vale Share News

 Companhia Vale Do Rio Doce Stock Price
RIO Stock Price
 Companhia Vale Do Rio Doce Stock Chart
RIO Stock Chart
 Companhia Vale Do Rio Doce Stock News
RIO Stock News
 Companhia Vale Do Rio Doce Company Information
RIO Company Information
 Companhia Vale Do Rio Doce Stock Trades
RIO Stock Trades

CRU: 'Little Chance' Iron Ore Price Will Rise As Global Supplies Grow

SAO PAULO--There is "little chance" iron ore prices will rise significantly for a considerable period due to increases in market supplies, particularly from Australia and Brazil, a CRU Group analyst said Wednesday. Indeed, spot prices for the steelmaking raw material should continue to decline slightly from their current levels of nearly $140 a metric ton delivered to China until 2016, Paul Scott, CRU's Group Manager - Steel, told delegates at the Brazilian Steel Institute's annual congress in Sao Paulo. Iron ore spot prices were 20% lower in the first quarter than they were in the same 2011 period due to relatively weak steel production in China, according to CRU. Chinese steelmakers, which consume around 60% of world seaborne iron ore, made net losses in the first quarter, their first losses since 2000, Mr. Scott said. "At the same time as iron ore demand has moderated, supply from major suppliers has increased sharply," Mr. Scott said, adding that this has been mainly due to recent more favorable climatic conditions in Australia and Brazil which has led to higher exports. Chinese steel demand is now expected to slow to 4-5% annually, lower than in recent years when steel demand growth typically exceeded China's gross domestic product growth rates, according to Mr. Scott. Still, "iron ore exports from Australia and Brazil will increase sharply," by more than 18 million metric tons a year between 2014 and 2016, particularly from Australia, where new projects will start up, he said. Australia should increase its stake in the total iron ore export market to nearly 50% by 2016, Mr. Scott said. The saving grace for the world's big iron ore exporters including BHP Billiton PLC (BHPB.LN), Rio Tinto PLC (RIO.LN) and Vale SA (VALE, VALE5.BR) is that China is becoming increasingly dependent on imports of iron ore as some of its own high-cost iron ore mines are unable to compete in a lower price environment, he said. Write to Diana Kinch at diana.kinch@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
09/30/201605:20:00Savannah Resources 1st Half Net Loss Narrows; Extends JV Deadline
09/29/201603:08:00Oil-Price Jump Helps Drive Australia Stocks to Four-Week High
09/28/201623:30:00Asian Shares Gain After OPEC Deal
09/26/201611:22:00Rio Tinto Launches New Debt Reduction Plan for Up To $3 Billion
09/24/201613:00:00Rio Tinto opens the doors of its modernised smelter to the Kitimat...
09/19/201623:30:00Asia Shares Tread Water Ahead of BOJ, Fed
09/14/201603:14:00Australia Stocks Gain After Four-Session Run Lower
09/11/201623:00:00Asian Shares Slide After U.S. Drop
09/01/201619:19:00Aurizon Names Former Rio Tinto Executive Andrew Harding as CEO
08/30/201601:20:00Asian Shares Rise on U.S. Gains and Higher Commodities Prices
08/29/201600:30:00Stocks in Asia Fall After Comments From Fed
08/19/201600:10:00Asian Shares Down, Though Higher Oil Prices Lift Energy Stocks
08/12/201603:43:00Rio Tinto Iron-Ore Chief Attacks Australian Lawmaker's Proposed...
08/11/201601:20:00Newmont Sees Dividends Rising, Provided Gold Prices Cooperate
08/11/201600:00:00Asian Shares Slide on Slumping Oil Prices
08/03/201605:10:00Rio Tinto Cuts Dividend as Weak Prices Take Toll
08/03/201602:56:00Rio Tinto 1st Half Net Profit More Than Doubles
08/02/201607:37:00Rio Tinto OKs $338 Million to Complete Silvergrass Iron Ore Mine...
08/01/201603:41:00Australia Stocks End Higher, Led by Commodity Shares
07/27/201603:32:00Australia Stocks Close Near Flat After Mixed Inflation Data

Companhia Vale and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad