Vale boosts cost and freight iron ore sales

IRON ore sales transacted on a cost and freight (CFR) basis have increased for Brazilian mining giant Vale, while about 40% of all global seaborne trade – estimated to hit 1bn tonnes this year – is now sold on the spot market.

The spot market was estimated to be worth US$40bn, about twice the size of the global nickel market, Vale said.
The estimates came as the world’s largest iron ore producer posted first-quarter iron ore sales of 58.9m tonnes worth US$3.7bn...

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