OREANDA-NEWS. August 31, 2012. Vale, the world’s largest iron- ore producer, expects the steelmaking material’s price to rebound this year as high-cost producers cut supplies, Investor Relations Director Roberto Castello Branco said. Iron-ore below USD 120 per metric ton is a “short-lived”situation, Castello told reporters in Rio de Janeiro at the sidelines of the Platts SBB Steel Markets in Latin America conference today.

Vale is not among the producers planning to reduce supplies, he said.