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BRIEF-Vale sees no rebound in world steel demand until 2017

Published 2015-12-01, 12:49 p/m
© Reuters.  BRIEF-Vale sees no rebound in world steel demand until 2017
VALE
-

Dec 1 (Reuters) - Vale SA VALE5.SA sees no rebound in
world steel demand until at least 2017, iron ore chief Peter
Poppinga told investors at an event at the New York Stock
Exchange
* Vale iron ore chief Peter Poppinga says company will start
mining waste tailings for iron ore to blend with new ore,
reducing costs
* He expects pellet premium In U.S., Europe and Middle East
of about $30 a tonne over raw fines,
* Ferrous metals chief Jennifer Maki says current world
nickel price unsustainably low
* Vale says is not considering reviving closed Vale I and
Vale II iron ore pellet plants even with Samara out of market
* Poppinga says expects 2015 world steel output falling 2
percent versus 2014 marginally lower in 2016
* Vale iron ore chief says steel output will only recover in
2017 and China output is near peak
* Vale iron ore chief says 60 to 70 million tonnes of new
iron ore mine supply coming on line next year is in line with
depletion

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