Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Brazil's Vale said on Thursday it expects to replace some old higher-cost iron-ore production as new capacity comes on stream, the clearest sign yet the miner could cut future output forecasts due to weak prices. Any move to curb output growth by the world's largest producer of iron ore will be closely watched by a market currently in oversupply due to new capacity from Australia and Brazil combined with slower demand growth in China.
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