The global iron-ore market will be playing catch-up with an onslaught of increasing supply during the next two years, Brazilian mining giant Vale SA said Thursday.
The company has upgraded its estimate for supply growth in the so-called seaborne iron-ore market this year to 140 million metric tons from 120 million tons, Jose Carlos Martins, executive director of Vale's Ferrous and Strategy division, said in a conference.
Source: The Wall Street Journal