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

CORRECT (6/27): CRU: 'Little Chance' Iron-Ore Price to Rise as Supplies Grow

"CRU: 'Little Chance' Iron-Ore Price Will Rise As Global Supplies Grow," at 10:00 p.m. ET on Wednesday, incorrectly stated that Chinese steel production was relatively weak in the first quarter, in the third paragraph. CRU clarified that hot-metal, or iron, output in the first quarter in China hit a new record level during the first quarter, as did Chinese imports of iron ore. In addition, CRU is forecasting that iron-ore exports from Australia and Brazil will rise by an additional 80 million metric tons a year between 2014 and 2016, not 18 million tons per year, in the sixth paragraph. The correct version follows: SAO PAULO--There is "little chance" that 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 raw material used to make steel 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, despite hot-metal production and iron-ore imports both reaching a new record level in China in the first quarter, 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 due mainly to recent more-favorable climatic conditions in Australia and Brazil, which has led to higher exports. Growth in Chinese steel demand is now expected to slow to 4% to 5% annually, lower than in recent years when steel-demand growth typically exceeded the rates of growth of China's gross domestic product, according to Mr. Scott. Still, "iron-ore exports from Australia and Brazil will increase sharply," by more than 80 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, which includes BHP Billiton PLC (BLT.LN, BBL), Rio Tinto PLC (RIO.LN, RIO) 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
10/22/201410:04:35LONDON MARKETS: Glaxo Gives FTSE 100 A Shot In The Arm
10/22/201409:55:11LONDON MARKETS: GSK Lifts FTSE 100 On Earnings, Ebola Vaccine
10/22/201406:50:06LONDON MARKETS: British American Tobacco Knocks FTSE 100 Lower
10/22/201403:58:35LONDON MARKETS: FTSE 100 Hugs The Flat Line Ahead Of BOE Minutes
10/16/201409:39:21Rio Tinto Alcan to Leave Cameroon Aluminum Smelter Joint Venture
10/15/201401:32:29ASIA MARKETS: Asian Shares Mixed; Hong Kong Up On Low China Inflation
10/14/201422:30:24Asian Shares Rise on Bargain Hunting
10/14/201415:39:42LONDON MARKETS: Burberry Group Leads Losses Among U.K. Stocks
10/14/201409:37:16Anglo Pacific Expects Better Royalties From Australia Mine
10/13/201412:14:05LONDON MARKETS: U.K. Stocks Take A Breather From Selling; Rio...
10/13/201404:09:35LONDON MARKETS: U.K. Stocks Resume Their Selloff, But Rio Tinto...
10/10/201416:00:27Glencore Held Preliminary Talks With Cliffs Natural Resources...
10/10/201412:36:32LONDON MARKETS: FTSE 100 Slides To One-year Low After Tumultuous...
10/10/201407:35:10ASIA MARKETS: Asian Shares Drop On Oil Price Decline, Growth...
10/10/201403:58:48LONDON MARKETS: FTSE 100 Heads For One-year Low After Tumultuous...
10/09/201422:40:16Wall Street Drags Down Asian Shares
10/08/201412:13:12LONDON MARKETS: Travel Stocks Slide In London Amid Ebola Scare
10/08/201405:49:30LONDON MARKETS: Travel Stocks Lead FTSE 100 Lower Amid Ebola...
10/07/201418:06:09ADR Shares End Mixed; Rio Tinto Shares Trade Actively
10/07/201412:17:17LONDON MARKETS: FTSE 100 Falls Amid Broader European Selloff

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad