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Vale threatens to unleash spare capacity if steel prices surge
Published Thu, Dec 7, 2017 · 09:50 PM
Rio de Janeiro
VALE SA has a somber message for anyone betting on iron ore prices returning to the heady days of 2011.
The world's biggest producer of the steel-making ingredient is prepared to unleash as much as 50 million tonnes of spare capacity to balance the market if prices get too high, chief executive officer Fabio Schvartsman said.
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