Freight Up 50%, Mills Won’t Pay: Brazil’s Small Miners Squeezed From Both Ends, So Why Won’t Vale Cut?

On 29 September, CSN Mineração issued a material fact announcing a temporary cut in iron ore output at the dry processing plant of its Pires Complex in Ouro Preto, Minas Gerais, citing current market conditions, low ore prices and high ocean freight. Because of the cut and lower third-party purchases expected in the coming months, ...

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